26 April 2022

Axiata Group subsidiary Edotco Group Sdn Bhd has paid RM3.42bn for 2,973 telecom towers in the Philippines through a sale and lease back transaction with subsidiaries of PLDT

The transaction makes Edotco the leading tower company (TowerCo) in the Philippines with 3,073 towers.

Chairman Datuk Nik Ramlah Nik Mahmood said the deal presented a unique opportunity for Edotco to gain immediate scale in a market with significant infrastructure needs while establishing a partnership with PLDT, a highly reputable and reliable anchor tenant.

"Being the largest TowerCo in the Philippines, Edotco can be instrumental in shaping and developing the communications infrastructure in the country while creating value for its shareholders," she said in a statement.