Banglalink finalizes sale of 2,000 towers in Bangladesh

Veon subsidiary Banglalink has finally completed the sale of 2,000 of its telecom towers in Bangladesh to Summit Towers. This deal worth $100 million was confirmed by Veon in a statement yesterday.

Kaan Terzioğlu, group CEO of Veon, said, “This sale marks an important milestone for us as we continue to successfully execute our strategy to transform Veon into an asset-light digital operator. This is a first and an important step in crystalizing the value of our infrastructure assets in Bangladesh, enabling Banglalink to focus on delivering value as a digital operator that offers its customers locally relevant digital services."

Muhammad Farid Khan, chairman of Summit Communications Limited and Summit Towers Limited, added, “We are delighted to have successfully finalized the deal within the mutually agreed timeline. Acquiring the ownership of the towers in this deal adds to our portfolio of 4,500 towers in the Bangladesh market.”