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Malaysia's Axiata to buy Pakistan telecom towers firm for $940 mn

Tower firms in Asia have been expanding by buying tower infrastructure from carriers to cut debt

Reuters  |  Kuala Lumpur 

Malaysian telecommunications firm Axiata Group's infrastructure unit is buying telecom towers in Pakistan for $940 million in partnership with a local conglomerate, in what will be one of the biggest deals in the South Asian nation. Axiata subsidiary edotco Group Sdn Bhd and its Pakistani partner Dawood Hercules Corp will acquire Deodar, the tower unit of Pakistan Mobile Communications Ltd, which will add more than 13,000 towers to its portfolio. The purchase will see edotco emerge as the world's eighth-largest independent tower firm and the second-largest multi-country ...

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First Published: Wed, August 30 2017. 22:58 IST