On 2 October 2015 edotco announced that it had reached agreement to acquire a 75% controlling stake in Digicel Myanmar Tower Company (MTC), subject to the approval of regulators and MTC’s minority shareholder YSH Finance. The transaction values MTC at an enterprise value of US$221mn. When closed, the deal will bring edotco’s tower count over 15,000 and extend their footprint to include Malaysia, Bangladesh, Cambodia, Sri Lanka, Pakistan and now Myanmar.
TowerXchange: Congratulations on the announcement of edotco’s maiden transaction beyond the Axiata group! What has attracted edotco to invest in Myanmar?
Suresh Sidhu, CEO, edotco:
Mobile penetration in Myanmar remains among the lowest in Southeast Asia; according to the Myanmar Ministry of Communication and Information Technology, mobile penetration stood at just over 50% in June 2015.
