The opening months of 2024 has seen a continuation of the consolidation and M&A that ended 2023. Exciting transactions continue to reshape some Asian countries’ digital infrastructure climate. In February, PhilTower Consortium and MIDC announced plans to create a Philippine-wide digital infrastructure joint venture, subject to regulatory approval. The JV would be one of the first examples of towerco consolidation in the Philippines, a market with dozens of towercos active.
Earlier in January, Indian towerco Summit Towers snapped up just over 2,000 towers from VEON-owned Banglalink in a in a sale and leaseback deal worth US$100mn, with VEON pivoting its strategy into becoming an asset-light digital operator.