Axiata's Myanmar exit will bolster investor confidence, say analysts

KUALA LUMPUR: The sale of Edotco's Myanmar tower assets could see the removal of a stumbling block for Axiata Group Bhd by alleviating concerns over the group's investments in frontier markets, say analysts.

Having previously announced its intent to dispose of its Myanmar investments, Axiata said in a stock market filing yesterday 63%-owned Edotco Group Sdn Bhd is proposing to dispose of its 87.5% stake in Edotco Myanmar for US$150mil (RM713mil) cash.