Malaysian operator Axiata Group is reportedly seeking financial advisers to explore a potential sale of part of its stake in tower unit edotco Group, valuing the business at around $3 billion, including debt.
Sources told Bloomberg that Axiata, along with sovereign wealth fund Khazanah Nasional, have invited investment banks to pitch proposals for the potential sale as the company seeks fresh capital to drive growth. The shareholders remain in early discussions with potential advisers, with no final decisions made as of yet.
However, speaking to the news publication, an edotco representative denied involvement in shareholder discussions. Axiata currently owns a majority stake of 63 per cent of edotco.
The latest rumours follow previous attempts by other stakeholders to adjust their positions in edotco. Japan’s Innovation Network Corp revived efforts to divest its stake in the business late last year, ultimately striking a deal with Khazanah Nasional in March 2025.
In addition, Macquarie Asset Management also reportedly offered to acquire Axiata’s stake in December 2024, valuing edotco at roughly $3.5 billion. The operator was said to be evaluating the bid at the time.
More than 55,000 towers across markets including Malaysia, Indonesia, Pakistan, and the Philippines are operated by edotco.