In a major development from Asia’s telecom sector, Axiata Group Berhad is reportedly preparing to begin the sale process of its telecom tower subsidiary — edotco Group Sdn Bhd, which is ranked as the sixth-largest tower company in the world. According to sources close to the matter, the move is part of Axiata’s broader strategy to streamline operations and attract global investors.
This decision could mark one of the largest telecom infrastructure transactions in Asia this year, potentially reshaping the landscape of mobile network infrastructure in the region.
Axiata Group Berhad, based in Malaysia, is one of Asia’s leading telecommunications companies. It has operations in 11 countries, primarily in Southeast Asia and South Asia, serving over 150 million customers.
One of its most valuable assets is edotco Group Sdn Bhd, its tower infrastructure subsidiary. edotco owns and manages over 54,000 towers across countries such as Malaysia, Bangladesh, Pakistan, Cambodia, Myanmar, Sri Lanka, and the Philippines. This makes edotco the sixth-largest independent tower company in the world by portfolio size.
The decision to initiate the Axiata tower sale process comes amid increasing pressure on telecom companies worldwide to unlock capital and refocus on core operations such as 5G rollout, digital services, and connectivity.
Here are the key reasons behind the potential sale:
Tower infrastructure businesses often carry stable, long-term cash flows due to their leasing models. By selling a stake or full control of edotco, Axiata can monetize its assets and potentially use the proceeds to reduce debt or invest in growth-focused areas.
Telecom towers have become hot assets for global investors, especially as mobile data usage and 5G rollout accelerate worldwide. Investors such as private equity firms, sovereign wealth funds, and infrastructure funds are eager to buy tower portfolios with strong growth potential.
Axiata has been reshaping its business strategy in recent years. The group aims to evolve into a modern digital champion, focusing more on its digital telco and fintech businesses while shedding capital-intensive operations like tower ownership.
Although Axiata has not publicly confirmed the sale, sources suggest that edotco could be valued at USD 3 billion to 5 billion, depending on the structure of the transaction and market interest.
The sale process may involve:
The actual valuation will likely depend on multiple factors including tower tenancy ratios, regional market conditions, and profitability metrics.
The Axiata tower sale is likely to attract a wide range of global investors due to edotco’s diversified portfolio and strong regional presence.
Potential interested parties may include:
Regional telecom companies that want to expand their tower footprint might also express interest.
As of now, Axiata has not officially confirmed the sale process. However, sources familiar with the matter have indicated that investment banks have been approached to help explore strategic options.
In response to media inquiries, Axiata representatives have declined to comment, citing corporate confidentiality and strategic review policies.
This kind of low-profile approach is common during the early stages of a major M&A transaction, especially when discussions with potential bidders are still confidential.
The news of the Axiata tower sale has already sparked interest in the Malaysian stock market. Axiata’s shares saw a mild uptick in trading volume, and analysts are now closely watching how the deal progresses.
If the sale is successful, potential benefits for Axiata include:
However, some industry analysts have raised concerns that Axiata may lose long-term control over critical infrastructure by selling its tower arm.
Here’s a quick snapshot of edotco’s geographical presence:
| Country | Number of Towers | Market Notes |
|---|---|---|
| Malaysia | ~11,000 | Home market; regulatory stability |
| Bangladesh | ~15,000 | High growth, low tenancy ratio |
| Pakistan | ~14,000 | Emerging market, expansion potential |
| Cambodia | ~2,500 | Smaller market, but growing mobile users |
| Myanmar | ~2,000 | Political risk but strategic footprint |
| Sri Lanka | ~1,500 | Stable, but slower growth |
| Philippines | ~8,000 (under dev.) | Strong growth due to 5G and mobile use |
This wide coverage gives edotco a strong regional advantage and geographic diversity, making it attractive for any global investor seeking exposure to the booming Asia telecom market.
If successful, the Axiata tower sale could trigger a wave of consolidation or monetization efforts by other telcos in the region.
Many telecom operators in Asia still own their own tower assets, but that trend is shifting fast. Independent tower companies and infrastructure REITs are becoming the preferred operating model, offering scale, capital efficiency, and improved service levels.
This sale might also set a valuation benchmark for other regional tower businesses planning to divest or go public.
The sale process is expected to unfold over the coming 3 to 6 months, depending on market conditions and due diligence.
Here’s what to watch:
The Axiata tower sale marks a strategic turning point for one of Asia’s most prominent telecom players. By monetizing edotco, Axiata aims to unlock billions in value, strengthen its digital services focus, and attract high-quality investors into one of the most critical sectors in Asia’s digital economy — telecom infrastructure.
While the deal is still in its early stages, the global investment community is already watching closely. If executed well, this move could reshape not just Axiata’s future but influence how telecom infrastructure is managed and monetized across emerging Asia.
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