Summit Towers Ltd. is set to acquire 2,000 towers from Banglalink for Tk1,100 crore, intensifying competition in Bangladesh’s tower infrastructure sector. The sale, aimed at servicing Banglalink’s financial commitments and facilitating digital expansion, could potentially enhance competition with Edotco Bangladesh, a market leader with 15,955 towers.
Summit Communications, armed with a robust fiber network and submarine cable license, aims to become a major player by integrating communication infrastructure services. The deal allows Banglalink to maintain cash flow amid clearing dues of around Tk823 crore. Summit’s tower deployment has surged since it received a boost in 2022, limiting Edotco’s new tower rollout. The transaction awaits regulatory approval. In Q2 2022, Banglalink reported an 11% YoY revenue increase to Tk1,315 crore.