Axiata acquires 12.5% additional stake in edotco Myanmar via local subsidiary

A security officer guards in front of the Axiata headquarters building in Kuala Lumpur May 28, 2014. REUTERS/Samsul Said

Malaysia’s edotco Group, a fully owned subsidiary of telecom company Axiata, has bought an additional 12.5 per cent stake in edotco Myanmar for $35 million. Post completion of the transaction, Axiata’s total stake in edotco will increase to 87.5 per cent.

edotco Myanmar, earlier known as the Digicel Myanmar Tower Company, will be valued at at $280 million after the transaction, The Edge Markets reported.

In December 2015, Axiata had announced the acquisition of a 75 per cent stake in Digicel Myanmar Tower Company (MTC) while Yoma Strategic Holding held the remaining 25% stake.

Now, edotco Myanmar is completely owned by edotco Singapore.

“The increase in valuation simply reflects an increase in the Ebitda (earnings before interest, taxes, depreciation and amortisation) of edotco Myanmar. The exercise price of the options is calculated based on a formula that uses a multiple of the Ebitda; a multiple similar to the one used in the initial acquisition,” said Suresh Sidhu, chief executive officer of edotco Group.

edotco started as a regional telecommunications infrastructure service company in 2012. In Myanmar, it owns and operates over 1250 tower sites in the country.

Also Read:

Axiata’s edotco draws up $200m tower infra investment plan in Myanmar

Malaysia’s telecom major Axiata seeks buyers for overseas holdings, move may fetch $700m

Malaysian telecom carrier Axiata signals interest in raising stake in Singapore’s M1

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.