Private equity company I Squared reportedly looked to acquire a major portion of DigitalBridge’s tower assets in Southeast Asia, after a move to buy the investment company’s Singapore-based unit broke down over price differences.

Bloomberg reported I Squared is mulling acquiring Digital Bridge’s EdgePoint Infrastructure unit’s towers in the Philippines and Malaysia, valued at as much as $2 billion, with the tower company’s Indonesian assets valued at about $1 billion to be sold separately, possibly to a local company.

The news outlet reported I Squared was previously in talks with DigitalBridge about the sale of EdgePoint Infrastructure, but they failed to agree on a valuation.

EdgePoint Infrastructure owns and operates about 10,000 towers in Indonesia, 2,800 in the Philippines and more than 1,500 in Malaysia.

In addition to DigitalBridge, EdgePoint Infrastructure is backed the Abu Dhabi Investment Authority and International Finance Corp.

US-based DigitalBridge made an offer to take Japanese infrastructure company JTower private in August 2024.