Malaysian mobile operator Axiata Group plans to raise at least USD 500 million in an initial public offering of its telecommunications tower assets, reports Bloomberg citing two people with knowledge of the matter. Axiata is working with CIMB, Goldman Sachs and JPMorgan Chase on the IPO, which may take place in 2014 in Kuala Lumpur, said the people, who asked not to be identified as the process is private. Axiata is also evaluating a bid for Axis Telekom in Indonesia, people familiar with the matter said in May. The company last year cancelled a plan to sell 7,000 telecommunication towers in Indonesia, citing a lack of interest. Axiata declined to comment on the IPO matter.
