(RTTNews) - Macquarie Asset Management Pty, affiliated to Australian financial services firm Macquarie Group Ltd. (MQG.AX, MQBKY.PK), has submitted a bid to buy Axiata Group Bhd.'s telecom infrastructure unit, Bloomberg reported citing people with knowledge of the matter. A successful deal will have a transaction value of about $3.5 billion.
The offer for edotco Group Sdn. is being evaluated by Malaysian cellular firm Axiata, which is yet to make a decision. Axiata owns about 63% of edotco.
As per the report, considerations are ongoing, which may or may not lead to a deal, while edotco may also consider other bids.
Edotco, which was founded in 2012, manages over 55,000 telecom towers in Asia, including in Malaysia, Indonesia, Pakistan and the Philippines. In April, the unit agreed to sell its 87.5% stake in edotco Investments Singapore Pte Ltd, a special purpose vehicle for its investments in Myanmar, for about $150 million.
In October, Innovation Network Corp of Japan had revived the sale of its 21% stake in edotco. The company reportedly invested $400 million in the telecom infrastructure firm eight years ago.
Macquarie recently acquired Hanam data centre in Seoul for $663 million, while it sold Australian data-centre operator AirTrunk in a $16.1 billion deal.
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