This move highlights Axiata’s strategy to secure a cash injection to fund its growth plans, although no final decision has been reached yet, with discussions among shareholders and advisers still ongoing.
According to Bloomberg, Axiata has reached out to various investment banks and Malaysia’s sovereign wealth fund, Khazanah Nasional, inviting them to submit proposals for the advisory role in the potential sale. This exploration comes after other stakeholders, including the Japanese investor Innovation Network Corporation of Japan, expressed intent to divest their shares in edotco. The Japanese firm revived its plans last year and successfully reached a deal with Khazanah Nasional in March 2025 regarding its stake.
Despite Axiata’s exploration of a sale, a representative from edotco has denied that the company is currently involved in any discussions regarding these potential transactions, as reported by The Edge Malaysia. Axiata holds a 63% stake in the tower unit, which operates around 55,000 towers across several countries, including Malaysia, Indonesia, Pakistan, and the Philippines.
Interest in acquiring shares in edotco has been evident, with Macquarie Asset Management reportedly offering $3.5 billion for Axiata’s stake in December 2024. This reflects the ongoing demand for telecommunications infrastructure, particularly in the rapidly expanding markets across Southeast Asia.
