I Squared Capital is looking to buy some of DigitalBridge's Southeast Asian telecom tower assets.

As reported by Bloomberg, private equity firm I Squared Capital wants to snap up EdgePoint’s tower assets in Malaysia and the Philippines, estimated to be worth as much as $2 billion.

Singapore-based EdgePoint Infrastructure is DigitalBridge's Southeast Asian telecom tower operator.

Bloomberg notes that DigitalBridge and I Squared Capital have so far been unable to reach an agreement over a valuation.

Additional tower assets in Indonesia could be worth a further $1 billion, sources told the newswire, while domestic players are also thought to be in the running. The company operates 10,000 towers in the country.

Indosat Ooredoo Hutchison (IOH) previously sold 4,200 towers to EdgePoint Infrastructure back in 2021 for $750 million.

EdgePoint operates around 15,000 telecom towers across Indonesia, Malaysia, and the Philippines. Other backers in the company include the Abu Dhabi Investment Authority.

DigitalBridge is reportedly seeking $4 billion for its telecom tower asset. Talks are ongoing.