Kuala Lumpur-headquartered edotco Group Sdn Bhd announced yesterday it has entered into a conditional sale agreement with Touch Group Holdings Sdn Bhd (TGHSB) to acquire its subsidiary, Touch Mindscape Sdn Bhd, and its subsidiary companies. The total purchase price was reported to be $404.7 million.
The company said the acquisition puts them among the Top Five towercos in the world and cements its home market leadership position as the largest independent tower company in Malaysia. Upon completion, it will grow edotco’s owned and managed portfolio of towers to over 43,000 towers across Malaysia, Bangladesh, Pakistan, Sri Lanka, Cambodia, Myanmar, Philippines and Laos.
edotco Group CEO Adlan Tajudin said, “I am pleased with the rare opportunity to be able to acquire a towerco in Malaysia, and one with such a sizeable and high-quality telecommunication infrastructure portfolio. The proposed acquisition is in line with edotco’s growth strategy and plans to scale up and future-proof our operations to support national digital ambitions in the countries of our operations.”
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