VEON has introduced the crowning glory of the sale of a part of its tower portfolio in Bangladesh to Summit Towers for about BDT 11 billion (round USD 100 million). This transaction comes to 2,012 towers owned by means of VEON’s subsidiary, Banglalink. Summit Towers, a subsidiary of Summit Communications Crew, has bought those towers.
Additionally Learn: Veon’s Banglalink to Promote Tower Portfolio to Summit Towers
Transaction Main points
Beneath the phrases of the settlement, Banglalink will proceed to utilise the tower infrastructure products and services for an preliminary length of 12 years, with doable extensions. VEON says this sale aligns with its method to transition into an asset-light virtual operator, permitting Banglalink to pay attention to offering virtual products and services adapted to the native marketplace.
In step with VEON, this sale represents a vital step in realising the price of infrastructure belongings in Bangladesh. It allows Banglalink to concentrate on handing over virtual products and services whilst keeping up get entry to to important infrastructure.
Stakeholder Feedback
“Over the last yr and a part, we now have effectively doubled our community capability and prolonged protection national, prioritising well-liked 4G accessibility for all. This strategic growth has considerably enhanced the standard of products and services presented to the folk of Bangladesh. Our collaboration with Summit Towers permits us to take your next step within the environment friendly control of infrastructure sources in step with our asset-light technique. This may allow us to center of attention extra on our products and services and virtual innovation akin to Toffee and MyBL,” Banglalink mentioned.
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Commenting at the transaction, Summit Communications mentioned, “Obtaining the possession of the towers on this deal provides to our portfolio of four,500 towers within the Bangladesh marketplace. This, coupled with a fiber optic community spanning over 55,000 km and the approaching submarine cable, will place Summit Communications Crew as the rustic’s number one end-to-end virtual infrastructure supplier, pleasant a dream set over a decade in the past.”
The proceeds from the deal will basically be utilised to satisfy Banglalink’s monetary tasks and force value efficiencies, facilitating the corporate’s virtual growth efforts.
VEON and Banglalink will reportedly proceed to discover collaborative alternatives associated with Banglalink’s final tower portfolio, in line with VEON Crew’s asset-light technique.
