Axiata Group’s proposed sale of shares in its tower unit edotco has attracted the interest of four possible buyers.
Bloomberg reported that the interested parties include CVC Capital Partners, I Squared Capital, Stonepeak Partners and a consortium led by Mitsui and including KDDI and JTower. Ahead of the mid-May deadline for lodging binding bids, the four potential bidders are currently conducting due diligence.
With all four expected to participate in the next round of bidding, the sale as it stands could raise up to US$750 million. However, if Axiata Group and other current edotco shareholders choose to offload any shares, this figure could increase to over US$1 billion.
In September 2022 we reported that Axiata was considering a share sale to fund its growth ambitions across the Asia-Pacific region.