Summit Group, Bangladesh’s largest infrastructure conglomerate, has significantly bolstered its telecommunications presence by acquiring over 2,000 telecom towers from Banglalink, one of the country’s leading mobile operators. Completed in 2023 and valued at approximately $100 million, this acquisition has positioned Summit Towers Ltd as a key player in Bangladesh’s telecom infrastructure sector, aligning with the nation’s wider digital transformation agenda.
The transaction involved the transfer of ownership of 2,012 telecom towers from Banglalink to Summit Towers Ltd, alongside a 12-year leaseback agreement allowing Banglalink continued access to the infrastructure. Muhammad Farid Khan, chairman of Summit Communications Limited and Summit Towers Limited, described the deal as “a prelude to greater cooperation” between the two firms and highlighted ambitions to extend collaboration beyond Bangladesh, with support from Banglalink’s parent company Veon.
For Banglalink, the sale allows the company to concentrate on its core business of delivering digital services. CEO Erik Aas stated, “Our partnership with Summit Towers enables us to focus our resources on our digital offerings, bridging the digital divide and providing outstanding customer experience to the people of Bangladesh.”
This acquisition fits within a broader industry trend of infrastructure sharing in Bangladesh’s telecommunications market. By allowing operators to delegate infrastructure management to specialized firms, it promotes efficiency and aligns with the government’s directives for optimized resource utilization.
Bangladesh’s Telecommunications Landscape and Growth
Bangladesh’s telecom sector is a vital contributor to the nation’s economy and digital progress. Market value is projected to reach $5.08 billion by 2025, growing annually at 4.31% and expected to hit $6.27 billion by 2030. The Bangladesh Telecommunication Regulatory Commission’s National Broadband Policy 2023 targets universal access to high-capacity broadband.
4G network coverage across Bangladesh has reached 100%, with 3G nearly universal at 99.57%, resulting in an internet penetration rate of 52.84%. By 2024, mobile subscriptions surged to 188.6 million—exceeding the total population—while over 22 million households gained internet access. Fixed broadband subscriptions are projected to grow 9.3% annually through 2031, alongside a 12% annual increase in internet user penetration. This digital adoption is largely driven by data consumption rather than traditional voice and SMS, supporting a burgeoning base of 52.9 million social media users and bolstering connectivity, economic opportunities, and social engagement in urban centers.
Public-private partnerships have been instrumental in this growth, encouraging telecom operators to invest heavily in expanding reliable, high-speed networks.
Industry Impact of the Acquisition
Valued at $100 million, Summit Group’s acquisition marks a key milestone in reshaping Bangladesh’s telecom infrastructure management. With this deal, Summit’s portfolio now exceeds 4,000 towers nationwide, positioning it as the third-largest tower operator behind Edotco Group (approx. 15,950 towers) and Grameenphone (12,500 towers).
Muhammad Farid Khan noted that, combined with Summit’s extensive fiber optic network spanning over 55,000 kilometers and an upcoming submarine cable, the group aims to become Bangladesh’s leading end-to-end digital infrastructure provider.
The transaction exemplifies global telecom industry trends emphasizing infrastructure sharing, allowing mobile network operators to focus on service delivery while specialized firms handle physical assets. The Bangladesh Telecommunication Regulatory Commission’s tower sharing guidelines provide a regulatory framework encouraging this model.
The 12-year leaseback agreement between Summit and Banglalink fosters a collaborative, symbiotic relationship, enabling both companies to focus on their core strengths while maximizing asset utilization.
Technological Integration and Future Readiness
This acquisition represents a significant evolution for Summit Group, requiring sophisticated integration of newly acquired towers with existing operations. Harmonizing monitoring systems, maintenance routines, and operational protocols across diverse geographies will be critical to unlocking the full value of the expanded portfolio.
Moreover, control over both fiber and tower infrastructure enables Summit to develop adaptive network architectures to meet growing bandwidth demands and emerging technologies. The expanded footprint will play a vital role in Bangladesh’s upcoming 5G rollout.
At a February 2024 celebration event, company representatives emphasized that the enlarged tower network “prepares us for the impending 5G revolution.” Summit’s fiber optic backbone provides essential backhaul capacity needed to manage increased data traffic generated by next-generation networks.
Accelerating Bangladesh’s Digital Transformation
Beyond commercial benefits, this acquisition reshapes the nation’s digital infrastructure ecosystem, potentially accelerating progress across multiple sectors. Arif Al Islam, managing director and CEO of Summit Communications and Summit Towers Limited, described the transaction as “the first tower acquisition in Bangladesh’s telecom industry,” setting a precedent for future deals.
Infrastructure investments like this underpin Bangladesh’s digital transformation by addressing critical challenges related to connectivity, affordability, and quality of service—cornerstones for inclusive digital growth.
