Macquarie Asset Management Pty, a subsidiary of the Australian financial giant Macquarie Group Ltd., has reportedly placed a bid to acquire the telecom infrastructure division of Axiata Group Bhd., according to Bloomberg sources. This prospective transaction is valued at approximately $3.5 billion.
The proposal for the acquisition of edotco Group Sdn. is currently under review by Axiata, a Malaysian cellular company, which owns around 63% of edotco. Axiata is still in the process of making a decision regarding the bid. The deliberations are ongoing and might not necessarily result in a final deal, as edotco continues to explore other potential offers.
Established in 2012, edotco manages over 55,000 telecom towers across Asia in countries such as Malaysia, Indonesia, Pakistan, and the Philippines. Earlier this year, the company agreed to divest its 87.5% stake in edotco Investments Singapore Pte Ltd, a special purpose vehicle for its ventures in Myanmar, for about $150 million.
In a related development, the Innovation Network Corp of Japan has revisited plans to sell its 21% stake in edotco. This stake was part of a $400 million investment in the telecom infrastructure firm made eight years ago.
Macquarie has been active in the data center market, recently acquiring the Hanam data center in Seoul for $663 million. Additionally, it sold the Australian data center operator AirTrunk in a transaction valued at $16.1 billion.
The material has been provided by InstaForex Company - www.instaforex.com
The proposal for the acquisition of edotco Group Sdn. is currently under review by Axiata, a Malaysian cellular company, which owns around 63% of edotco. Axiata is still in the process of making a decision regarding the bid. The deliberations are ongoing and might not necessarily result in a final deal, as edotco continues to explore other potential offers.
Established in 2012, edotco manages over 55,000 telecom towers across Asia in countries such as Malaysia, Indonesia, Pakistan, and the Philippines. Earlier this year, the company agreed to divest its 87.5% stake in edotco Investments Singapore Pte Ltd, a special purpose vehicle for its ventures in Myanmar, for about $150 million.
In a related development, the Innovation Network Corp of Japan has revisited plans to sell its 21% stake in edotco. This stake was part of a $400 million investment in the telecom infrastructure firm made eight years ago.
Macquarie has been active in the data center market, recently acquiring the Hanam data center in Seoul for $663 million. Additionally, it sold the Australian data center operator AirTrunk in a transaction valued at $16.1 billion.
The material has been provided by InstaForex Company - www.instaforex.com