Summit buys out 2000 Banglalink towers at $100m

Summit Towers Limited, a subsidiary of Summit Communications Group, the largest Telecommunications Infrastructure Company in Bangladesh, has signed a deal with Banglalink. 

As part of the deal, Summit Towers will purchase more than 2000 towers from Banglalink, making it one of the largest tower operators in Bangladesh, providing long-term tower services to Banglalink by leveraging its expertise and efficiency, reads a press release.

Summit Communications Group and Banglalink have a long-standing partnership which spans over a decade.

Summit has taken the lead in Bangladesh by teaming up with Banglalink to fully embrace the Tower Sharing Guidelines. This collaboration optimises infrastructure and resources in line with the government's directive.

This acquisition will further enhance Summit Towers' strength to facilitate Mobile Operators' networks to provide their customers with a true 4G experience and prepare for 5G. 

It will also allow Summit Communications Group to provide integrated telecommunications infrastructure services to its clients and customers, bundling fibre, tower and, in the near future, submarine cable facilities as well. 

This deal is significant for Banglalink, as Summit Towers not only facilitates a considerable reduction in network deployment and maintenance costs but also elevates service quality and promotes environmental sustainability. 

By leveraging Summit's expertise, Banglalink can streamline its focus on core strengths, marking a pivotal step in advancing its telecommunications landscape.

Muhammad Farid Khan, chairman of Summit Communications Limited and Summit Towers Limited, said, "This strategic deal is a prelude to greater cooperation between Banglalink and Summit, the largest integrated telecommunications infrastructure company in Bangladesh. The future is ours to grow together, and with support from VEON, we believe that our collaboration will go beyond the boundaries of Bangladesh into the global arena, setting an example in the region. We look forward to continuing to work together."

Md Arif Al Islam, managing director and CEO of Summit Communications Limited and Summit Towers Limited, said, "With this strategic deal in place, Summit Towers has established itself as a notable tower operator in the market with a tower size of around 4,500 towers within its first five years of operation. We always adopt world-class technology and a spirited energetic team to provide best-in-class quality services to satisfy our customers, and we aspire to strengthen this relationship further." 

Fadiah Khan, executive director of Summit Communications Limited and director of Summit Towers Limited, said, "This monumental deal is part of SComm Group's overall strategy to provide environmentally friendly, affordable and best quality internet/data experience to our clients and their customers. We are pleased to extend our partnership with Banglalink together with Veon, and we look forward to reaching greater heights together".

Kaan Terzioglu, Group CEO of VEON, said, "Across our markets, VEON operators are transforming into asset-light digital operators. Today's agreement marks a milestone, ensuring efficient use of resources not only for Banglalink but also for Bangladesh as a whole. This deal will enable us to focus on our core business as the leading digital operator of the country and continue addressing the unmet demand in entertainment, education, healthcare and financial services."

Erik Aas, CEO of Banglalink, said, "Banglalink has been successfully transforming into a nationwide digital operator, with internationally recognized high-quality 4G connectivity and leading digital services such as Toffee and MyBL. Our partnership with Summit Towers enables us to focus our resources on our digital offerings, bridging the digital divide for all and providing outstanding customer experience to the people of Bangladesh."