Australia’s Macquarie Asset Management has emerged as the leading bidder to acquire Edotco Group Sdn Bhd, the telecommunications tower arm of Axiata Group Bhd, according to a report by the Wall Street Journal.
The report, citing people familiar with the matter, said discussions are ongoing and no deal has been finalised. While recent developments in the Middle East have been taken into consideration, they are not expected to derail a potential transaction.
If completed, the deal could value Edotco at between US$3.5 billion (RM13.94 billion) and US$4.0 billion, the report said.
An Axiata spokesperson declined to comment on the matter but reiterated that the group has previously informed investors of its intention to explore value creation and potential monetisation options for Edotco. A spokesperson for Macquarie Group also declined to comment.
The Edge had earlier reported in its Dec 1–7, 2025 issue that Macquarie was among three shortlisted bidders for Edotco. The other contenders include a consortium led by the Employees Provident Fund (EPF) and a group led by private equity firm CVC Capital Partners plc.
Axiata currently holds a 63% stake in Edotco, which operates telecommunications towers across Bangladesh, Cambodia, Indonesia, Malaysia, Pakistan, the Philippines and Sri Lanka. Sovereign wealth fund Khazanah Nasional Bhd owns 32% of the company, while the remaining stake is held by Retirement Fund Inc (KWAP).
