Axiata spends close to $1bn on Pakistan towers

Malaysia's Axiata on Wednesday announced that it has brokered a deal to acquire 13,000 telecoms towers from Pakistan Mobile Communications Ltd (PMCL), strengthening its position as a multi-national towers operator.The telco has partnered with Pakistani investment conglomerate Dawood Hercules Corp on the deal.Together the pair have agreed to pay US$940 million for Deodar, PMCL's towers subsidiary. They will fund the deal through a combination of $600 million in external local debt and an equity