Asia-focussed telecoms tower firm Edotco Group, its Malaysian parent Axiata and a Japanese backer are in talks with investors for stake sales, in a deal that could raise about $1.2 billion, four sources familiar with the matter said.
Global Infrastructure Partners declined to comment. There was no response from Mitsui and Stonepeak to Reuters queries.
Innovation Network Corp of Japan , which became the tower company's second-biggest investor about six years ago with a $400 million investment or about a 20% holding, is also seeking to sell most of its stake. While broader dealmaking activity has fallen sharply over the past year due to weak equity markets and rising interest rates, telecom tower assets have been a bright spot.
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