IT infrastructure firm Mirait to acquire China telecom tower operator
SINGAPORE, NNA - Japanese information and telecommunications infrastructure development firm Mirait Holdings Corp. will take over a Chinese telecoms tower operator to tap growing 5G demand from mobile carriers in the country.
Mirait says it will boost its stake in Shanghai Changling Communication Equipment Co. to 50.1 percent from the current 17.3 percent through an additional share purchase scheduled for July 1 for an undisclosed sum.
The Tokyo-based engineering firm said in a statement Friday it will carry out the transaction via Lantrovision (S) Ltd., its wholly owned subsidiary in Singapore.
Shanghai Changling has built a number of telecoms towers while providing users such as mobile carriers with its sharing services.
Mirait said it anticipates stable profits and an expansion of its operations by effectively meeting demand for 5G-related operations during China's ongoing 5G promotional campaign. (NNA/Kyodo)