Axiata Unit Edotco, Dawood Hercules to Purchase Telco Towers in Pakistan

By Yantoultra Ngui Features Dow Jones Newswires

KUALA LUMPUR, Malaysia-- Malaysia's largest mobile phone operator Axiata Group Bhd. (6888.KU) said on Wednesday that it is partnering with Pakistani conglomerate Dawood Hercules Corp Ltd. (DAWH.KA) to buy telco towers in the South Asian country for $940 million.

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Under the deal, Axiata's unit edotco and Dawood Hercules will buy 13,000 towers from Pakistan Mobile Communications Ltd., according to edotco group's chief executive officer Suresh Sidhu at a press briefing on Wednesday.

-- Write to Yantoultra Ngui at yantoultra.ngui@wsj.com

(END) Dow Jones Newswires

August 30, 2017 02:18 ET (06:18 GMT)