Digicel to sell 75% stake in Myanmar Tower to Edotco for $221 mn

Telecom network operator Digicel announced its deal to sell its 75 percent stake in Digicel Asian Holdings, the parent of Digicel Myanmar Tower Company, to the Edotco Group, for $221 million.

Digicel Group CEO Colm Delves said: “The sale represents a strong return on our investment in Digicel Myanmar Tower Company.”

Digicel offers HSPA+ or LTE 4G in 30 markets in the Caribbean and South Pacific regions. It holds the number one position in 21 mobile market markets, with a mobile subscriber market share of more than 50 percent in 20 markets.

Digicel said its mobile subscriber base has grown from 0.4 million as of March 31, 2002 to 13.6 million subscribers as of March 31, 2015, representing a compound annual growth rate of 32.3 percent.

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