Axiata nears US$1b deal for Veon's Pakistan towers
Kuala Lumpur
VEON Ltd is in advanced talks to sell wireless towers in Pakistan to a unit of Axiata Group Bhd, the biggest Malaysian mobile operator.
Axiata's infrastructure arm, Edotco Group Sdn, plans to announce an agreement as soon as this week that could value the towers at about US$1 billion, people familiar with the matter said. The purchase of about 13,000 towers will make Edotco the biggest independent telecommunications tower operator in the South Asian nation, one of the people said, asking not to be identified because the information is private.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
China Vanke posts another quarterly loss on sales drought
Miami office tower goes up for sale for more than US$500 million
WeWork cuts new restructuring deal that spurns Adam Neumann
Abu Dhabi builder plans US$6.8 billion luxury housing project
JTC to sell hospitality project being built in Punggol Digital District
Mapletree Logistics Trust posts 2.5% drop in Q4 DPU; manager warns of further headwinds