Private equity firm CVC Capital Partners and Chinese wireless infrastructure company Guodong Group are among shortlisted bidders for Myanmar’s biggest telecommunications tower company, in a deal worth as much as $800 million, according to people with knowledge of the matter.
Malaysia’s largest wireless operator Axiata Group Bhd.’s unit edotco Group Sdn. has also proceeded into the next round of bidding for Irrawaddy Green Towers Ltd., the people said. Binding bids are due in the next few weeks, said the people, asking not to be named as the information is private.
Irrawaddy Green, set up in 2014, serves major operators in Myanmar including Norway’s Telenor ASA and Qatar’s Ooredoo Group, according to its website. The Myanmar firm is owned by Singapore-based Irrawaddy Tower Asset Holding Pte. Ltd., which is backed by Alcazar Capital Ltd. in Dubai and Lebanon-based investment firm M1 Group, according to the website of Dutch development bank FMO, which counts Irrawaddy as a client.
Discussions are still ongoing and there is no certainty that the deal will proceed, said the people. Representatives for CVC and edotco declined to comment, while representatives for Irrawaddy and Guodong didn’t immediately respond to requests for comment.