Axiata’s tower unit seeking deals to enter new markets, expand – CEO

KUALA LUMPUR: Malaysian telecoms firm Axiata Group Bhd has asked its edotco towers unit to seek deals to enter new markets or expand in Southeast Asia and South Asia, and may consider selling a stake if attractive large investment opportunities arise.

Axiata last month pulled the plug on a planned non-cash merger with Norway’s Telenor ASA citing unspecified complexities.

Axiata Chief Executive Jamaludin Ibrahim told Reuters on Thursday his company did not see chances for another group-level deal. A tie-up with Telenor would have created Southeast Asia’s largest telecoms operator with 300 million subscribers.