Axiata unit edotco buys tower firm for RM1.7bil, expanding its market share

KUALA LUMPUR: Axiata Group Bhd said its 63% owned subsidiary edotco Group Sdn Bhd has acquired a telecommunication infrastructure firm Touch Mindscape Sdn Bhd in deal worth RM1.7bil, expanding the group's tower assets.

Touch Mindscape main assets includes 923 telecommunication towers and optical fiber network including backbone trunks and last mile connections along Kuala Lumpur – Karak Highway, East-Coast Expressway, and Genting Sempah – Genting Highlands link.

The proposed acquisition would add about 1,000 owned and operated towers, including build-to-suit customer orders for around 60 towers sites to be formalised, Axiata said in a filing today.