Irish-owned Digicel Group has agreed to sell a controlling stake in passive infrastructure firm Myanmar Tower Company (MTC) to Malaysia’s Axiata via the former’s Digicel Asian Holdings division. Under the terms of the deal, Axiata’s edotco unit will acquire Digicel’s 75% stake in the tower company at an enterprise value of USD221 million, subject to the relevant regulatory approvals. The remaining 25% is held by YSH Finance, although that may also be purchased by the Malaysian group: the Myanmar Times cites a report from parent company Yoma Strategic Holdings (YSH) as saying that the Singapore-listed firm is involved in discussions with edotco regarding the sale of its stake.
In a statement from Axiata, edotco said it plans to ‘bring innovative products and [the] end-to-end managed services that it offers in the Asian region, from towers and transmission to operations and maintenance and potentially energy into Myanmar.’