Axiata Seeks Birla For Tower Deal

By M.Saraswathi MUMBAI (India), June 8 (Bernama) -- 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 (one of the leading telecommunication companies in Asia), 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 on Friday. -- BERNAMA