Axiata’s US$3b tower arm draws takeover interest

edotco

KUALA LUMPUR: Buyers are circling Axiata Group Bhd.’s wireless tower business, even as the Southeast Asia telecom giant presses ahead with plans for a broader merger with Telenor ASA’s Asian operations, people with knowledge of the matter said.

Axiata has received preliminary expressions of interest in recent months about a potential takeover of its Edotco Group Sdn. unit, according to the people, who asked not to be identified as the discussions are private. The business could be valued at as much as $3 billion in a deal, one of the people said.