Axiata Group is reportedly seeking financial advisers as it explores a potential sale of its majority stake in tower subsidiary edotco Group, in a deal that could be worth up to US$3 billion including debt.

According to Bloomberg, investment banks and Malaysian sovereign wealth fund Khazanah Nasional have been invited to submit proposals. Axiata is said to be looking for a cash injection to support its growth plans, though no final decision has been made and discussions with shareholders and advisers are ongoing.

The move follows previous efforts by other stakeholders to divest their shares in edotco. Japanese investor Innovation Network Corporation of Japan revived its plans to sell its stake last year and reached a deal with Khazanah Nasional in March 2025.

In a separate report, The Edge Malaysia noted that an edotco representative denied the company is currently involved in any such discussions. Axiata, based in Malaysia, owns a 63% stake in the tower unit.

Interest in edotco is not new - Macquarie Asset Management reportedly offered US$3.5 billion for Axiata’s stake in December 2024. The company operates approximately 55,000 towers across Malaysia, Indonesia, Pakistan, and the Philippines.