TOKYO -- U.S. private equity firm TPG has finalized a deal that marks its most ambitious investment in Myanmar and the biggest consolidation yet in the country's fast-growing telecommunication infrastructure sector.
Under an agreement that gained Naypyitaw's approval last month but has yet to be announced, TPG, majority owner of Apollo Towers Myanmar, the country's second biggest telecom tower company, will acquire Apollo's key rival Pan Asia Majestic Eagle, a 100% foreign-owned Yangon-registered company and the third largest tower owner.
