Four potential bidders eyeing edotco stake

Four potential bidders eyeing edotco stake

Axiata Group’s proposed sale of shares in its tower unit edotco has attracted the interest of four possible buyers.

Bloomberg reported that the interested parties include CVC Capital Partners, I Squared Capital, Stonepeak Partners and a consortium led by Mitsui and including KDDI and JTower. Ahead of the mid-May deadline for lodging binding bids, the four potential bidders are currently conducting due diligence.

With all four expected to participate in the next round of bidding, the sale as it stands could raise up to US$750 million. However, if Axiata Group and other current edotco shareholders choose to offload any shares, this figure could increase to over US$1 billion.

In September 2022 we reported that Axiata was considering a share sale to fund its growth ambitions across the Asia-Pacific region.

Sign-up to our weekly newsletter

Keep up-to-date with all the latest news, articles, event and product updates posted on Developing Telecoms.
Subscribe to our FREE weekly email newsletters for the latest telecom info in developing and emerging markets globally.
Sending occasional e-mail from 3rd parties about industry white papers, online and live events relevant to subscribers helps us fund this website and free weekly newsletter. We never sell your personal data. Click here to view our privacy policy.