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Dhaka Tribune

Summit celebrates acquisition of 2,000+ towers from Banglalink

The transaction, valued at Tk1,100 crore, solidifies Summit’s position as a key player in the telecom infrastructure sector

Update : 20 Feb 2024, 03:31 PM

Summit Towers Limited, a subsidiary of Summit Communications Group, the largest Telecommunications Infrastructure Company in Bangladesh, has announced the successful acquisition of 2012 towers from Banglalink Digital Communications Limited. 

The transaction, valued at Tk1,100 crore, solidifies Summit’s position as a key player in the telecommunications infrastructure sector.

The acquisition was completed with the transfer of Tk1,100 crore to Banglalink, cementing the partnership between the two entities.

This acquisition marks a significant advancement for Summit Towers, empowering mobile operators to enrich their network services for customers by delivering a seamless 4G experience and preparing for the impending 5G revolution.

Moreover, it positions Summit Communications Group to offer comprehensive telecommunications infrastructure services, integrating fiber, tower, and soon, submarine cable facilities, to cater to the evolving needs of its clients and customers. 

This partnership marks a major milestone for Banglalink, as Summit Towers offers more than just cost savings in network deployment and maintenance.

It also enhances service quality and promotes environmental sustainability. 

To celebrate this significant occasion, Summit Communications Group hosted an event titled "Celebrating Synergy" on Monday at the Ruposhi Bangla grand ballroom of Hotel Intercontinental Dhaka.

The event was attended by Zunaid Ahmed Palak MP, State Minister of Posts, Telecommunications and Information Technology as chief guest, Md Shamsul Arefin, secretary, ICT Division, BTRC Chairman Engr Md Mohiuddin Ahmed as special guest, and Muhammed Aziz Khan, founder chairman of Summit Group of Companies as honored guest. 

On behalf of Summit Communications, Muhammad Farid Khan, managing director and CEO, Md Arif Al Islam and executive director Fadiah Khan were present to celebrate this achievement. 

Kaan Terzioglu, Group CEO of VEON, Erik Aas, CEO of Banglalink, along with other high officials from Banglalink, also participated in the event, further emphasizing the collaborative spirit between the two companies.

Zunaid Ahmed Palak MP, State Minister of Posts, Telecommunications and Information Technology, said: “With this huge number of towers, Summit Communications will be able to provide much more quality services to the mobile network operators. At the same time, I would like to also request Kaan, Group CEO of VEON, as their next investment destination.” 

Muhammed Aziz Khan, founder and chairman of Summit Group of Companies said: “Despite Covid-19, Wars, US interest rates Bangladesh marches forward, this is made possible by the government’s policies of providing electricity to all and 'digital Bangladesh' ie internet and phone to all. The tower acquisition is part of that great journey to middle income country, a total eradication of poverty and a Smart Bangladesh.” 

Kaan Terzioglu, group CEO of VEON, said: "Our partnership with Summit Towers is not just a financial transaction; it's a strategic example of industry collaboration that propels us towards becoming a truly 'asset-light' digital operator. This collaboration enables us to leverage our resources efficiently to create the country's most diversified and innovative digital portfolio."

Erik Aas, CEO of Banglalink, stated: “Our collaboration with Summit Towers extends beyond optimizing infrastructure. It is a transformative move, allowing us to focus more on ensuring widespread access to innovative digital services and connectivity."

Muhammad Farid Khan, chairman of Summit Communications Limited, said: “Acquiring ownership of these towers adds to our portfolio totaling to 4,500 towers in the Bangladesh market. This, coupled with a fiber optic network spanning over 55,000 km and the upcoming submarine cable, will position Summit Communications Group as the country's primary end-to-end digital infrastructure provider, fulfilling a dream set over a decade ago."

Md Arif Al Islam, managing director & CEO of Summit Communications Limited, said: "This is the first tower acquisition of tower in telecom industry in Bangladesh and sets precedence for more of such transactions to take place. This will help us to create synergy, operational efficiency and best practices for environmental friendly operation. "

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