Summit completes acquisition of 2012 towers from Banglalink

FE DESK | Published: February 20, 2024 22:31:01

State Minister of Posts, Telecommunications and Information Technology Zunaid Ahmed Palak, Secretary at the ICT Division Md Shamsul Arefin, BTRC Chairman Md Mohiuddin Ahmed and Founder Chairman of Summit Group of Companies Muhammed Aziz Khan along with other guests and officials of Summit Towers Limited and Banglalink pose at an event titled 'Celebrating Synergy' hosted by Summit Communications Group at a hotel in Dhaka recently.

Summit Towers Limited, a subsidiary of Summit Communications Group, has announced the successful acquisition of 2012 towers from Banglalink Digital Communications Limited, marking a significant milestone in the telecommunications industry.
The transaction, valued at Tk 11 billion, solidifies Summit's position as a key player in the telecommunications infrastructure sector. The acquisition was completed with the transfer of the amount to Banglalink, cementing the partnership between the two entities, says a statement.
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 the acquisition of towers, Summit Communications Group hosted an event titled 'Celebrating Synergy' at a hotel in Dhaka recently.
State Minister of Posts, Telecommunications and Information Technology Zunaid Ahmed Palak was present as the chief guest.
Secretary at the ICT Division Md Shamsul Arefin and BTRC Chairman Md Mohiuddin Ahmed were present as special guests while Founder Chairman of Summit Group of Companies Muhammed Aziz Khan attended the event as the Guest of Honour.
On behalf of Summit Communications, Chair-man Muhammad Farid Khan, Managing Director and CEO Md Arif Al Islam and Executive Director Fadiah Khan were present. Kaan Terzioglu, Group CEO of VEON, and Erik Aas, CEO of Banglalink, also joined the event.