Press Conference – edotco partners Dawood Hercules to announce its biggest deal to date by acquiring 13,000 towers in Pakistan to become the 8th largest Independent Tower Company Globally and 2nd largest multi-country tower operator globally. Pakistan to solidify its position as one of the largest independent tower companies in the world.
Pakistan can never miss a chance to show the world how powerful we are, after the CPEC investments Pakistan is going to touch another milestone in the collaboration with edotco, which is integrated telecommunications infrastructure services company in Asia acquiring the towers from Pakistan Mobile Communications Limited (“PMCL”) together with Dawood Hercules Corporation Limited (“DH Corp”), a leading listed investment union in Pakistan.
The company edotco is operating a regional portfolio that includes over 25,000 towers across our core markets of Malaysia, Sri Lanka, Bangladesh, Cambodia, Pakistan and Myanmar, but has chosen Pakistan a prime investor for future remarks and vast expansion which will be in absolute favor for Pakistan. PMCL is Pakistan’s largest mobile network operator and through its well-known telecom brand JAZZ provides a range of telecommunication services for over millions of Pakistani users to reach this target PMCL will be playing a vital role to support edotco & Dawood Hercules. By the completion, edotco will strengthen its position as the largest independent tower company in Pakistan with a high-quality asset portfolio and PMCL as its hook for business.
“The total transaction consideration for the proposed acquisition is USD940 million, which will be funded through a combination of external local debt of USD600 million and an equity split of USD174 million by edotco and USD166 million by DH Corp for their respective stakes” – presented by Media news of edotco.
Telecommunication industry of Pakistan already reflected its rainbow in Pakistan Stock Exchange with leading fastest growing telecommunication infrastructure markets
This grand investment listed as a term of the transaction partnership, Dawood Hercules Corp will be investing a 45% equity stake in edotco PK with the persisting 55% control stake to be held by edotco. Dawood Hercules Corp.
This is just a beginning; we can predict more investment for over 200 million population of Pakistan.