Macquarie bidding for Axiata’s EDOTCO

Axiata is evaluating the offer for EDOTCO Group Sdn Bhd and has yet to make a decision. — Reuters

KUALA LUMPUR: Macquarie Asset Management Pty has submitted a bid to buy Axiata Group Bhd’s telecom infrastructure unit in a transaction that could value it at about US$3.5bil, according to people with knowledge of the matter.

Axiata is evaluating the offer for EDOTCO Group Sdn Bhd and has yet to make a decision, the people said, asking not to be identified as the process is private. Considerations are ongoing and may not lead to a deal, the people said, adding that edotco may also draw other bids.