Axiata Group Bhd sells Myanmar telecom tower business for $150M, exiting Myanmar market.
Axiata Group Bhd is selling its Myanmar telecommunication tower business for US$150 million to an undisclosed buyer, in a move to slash its massive borrowings of almost RM25 billion. The Malaysian telecom conglomerate will dispose of its entire holding in Edotco Myanmar Ltd, signaling its exit from the Myanmar market. Axiata's Edotco Group entered Myanmar in 2015, but the decision to exit was made due to deteriorating macroeconomics and operating environments in Myanmar.
April 04, 2024
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