Veon Ltd. has successfully concluded the sale of part of its tower portfolio in Bangladesh through its subsidiary, Banglalink, to Summit Towers Limited for approximately Tk 1,100 crore, or $100 million. Summit Towers, a subsidiary of Summit Communications, now owns 2,012 Banglalink towers under the master tower agreement.
Banglalink retains tower infrastructure services for an initial 12-year period, with potential extensions. The sale aligns with Veon’s strategy to transform into an asset-light digital operator. The proceeds will support Banglalink’s financial commitments and contribute to its digital expansion. Nomura International Plc, Allen Overy LLP, and Dr. Kamal Hossain & Associates were advisers to Banglalink.