(Sept 18): After closing its biggest deal so far, Axiata Group’s 62.4%-owned telecommunications infrastructure arm, edotco Group, will take a breather on acquisitions and focus on integrating the acquired operations in Pakistan with its existing infrastructure this year.
“While we still have funds available [for more acquisitions], our priority at this stage is to complete the Pakistan deal and enable its integration with our existing operations. But it’s still a subject of balance if an interesting opportunity arises — whether we have enough resources to execute it, in addition to the latest acquisition in Pakistan,” edotco CEO Suresh Sidhu tells The Edge Malaysia.
Last month, the company announced that it was buying Deodar, which owns 13,000 telecom towers in Pakistan, from Pakistan Mobile Communications for US$940 million ($1.26 billion). The proposed deal will be funded through a debt of US$600 million and equity funding from edotco (US$174 million) and Pakistan conglomerate Dawood Hercules Corp (US$166 million).