Banglalink Completes Sale of Tower Portfolio to Summit Towers for USD 100 Million

VEON has announced the completion of the sale of part of its tower portfolio in Bangladesh to Summit Towers for approximately BDT 11 billion (around USD 100 million). This transaction involves 2,012 towers owned by VEON’s subsidiary, Banglalink. Summit Towers, a subsidiary of Summit Communications Group, has acquired these towers.

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Also Read: Veon’s Banglalink to Sell Tower Portfolio to Summit Towers

Transaction Details

Under the terms of the agreement, Banglalink will continue to utilise the tower infrastructure services for an initial period of 12 years, with potential extensions. VEON says this sale aligns with its strategy to transition into an asset-light digital operator, allowing Banglalink to concentrate on providing digital services tailored to the local market.

According to VEON, this sale represents a significant step in realising the value of infrastructure assets in Bangladesh. It enables Banglalink to focus on delivering digital services while maintaining access to necessary infrastructure.

Stakeholder Comments

“Over the past year and a half, we have successfully doubled our network capacity and extended coverage nationwide, prioritising widespread 4G accessibility for all. This strategic expansion has significantly enhanced the quality of services offered to the people of Bangladesh. Our collaboration with Summit Towers allows us to take the next step in the efficient management of infrastructure resources in line with our asset-light strategy. This will enable us to focus more on our services and digital innovation such as Toffee and MyBL,” Banglalink said.

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