Axiata seeks Birla for tower deal

MUMBAI: Axiata Group has approached Aditya Birla group-owned Idea
Cellular to build a transnational tower company with operations across
Southeast Asian markets.

Axiata wants to acquire or merge more
than 8,000 towers of the Indian mobile operator as it looks to create a
unified tower entity with a presence in seven nations, Times of India
reported quoting banking sources directly familiar with the matter.

Axiata, formerly Telekom Malaysia, holds a stake of just under 20 per cent in Idea Cellular.

Diversified
Indian conglomerate Aditya Birla, which controls majority interest in
the third largest domestic mobile phone firm, has studied the Axiata
plan even though no decision has been taken yet.

Birla's
response will be critical to Axiata's attempts to carve out a tower
company in countries where it owns or has joint ventures in the telecom
business.

Axiata is present in Malaysia, Indonesia, Sri Lanka,
Bangladesh and Cambodia through controlling interests in mobile
operations, while it has significant strategic stakes in India,
Singapore and Iran.

India has been one of the fastest growing among Axiata's markets.

Axiata
and Birla have a strategic relationship forged five years ago after a
merger between Idea Cellular and Spice Telecom, the report said. --
BERNAMA