Malaysian telco Axiata to sell Myanmar telco tower business for $150 mln

SINGAPORE: Malaysian telco conglomerate Axiata Group will dispose of its entire holding in Edotco Myanmar Ltd for $150 million, the company said late on Thursday, in a move signalling its exit from the telco tower business in Myanmar.

Axiata said edotco Investments (Labuan) Ltd, a wholly owned subsidiary of its telco tower arm Edotco Group, had agreed to sell its entire 87.5% stake in Edotco Investments Singapore Pte Ltd, the sole shareholder of Edotco Myanmar.