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Axiata spends close to $1bn on Pakistan towers

2017-08-30 02:00:00| Total Telecom industry news

Malaysia's Axiata on Wednesday announced that it has brokered a deal to acquire 13,000 telecoms towers from Pakistan Mobile Communications Ltd (PMCL), strengthening its position as a multi-national towers operator. The telco has partnered with Pakistani investment conglomerate Dawood Hercules Corp on the deal. Together the pair have agreed to pay US$940 million for Deodar, PMCL's towers subsidiary. They will fund the deal through a combination of $600 million in external local debt and an equity split of $174 million from Axiata's edotco business and $166 million by Dawood Hercules…read more on TotalTele.com »

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