Macquarie Asset Management has submitted a bid to acquire Axiata Group Bhd.’s telecom infrastructure unit, edotco Group Sdn., valuing the deal at approximately $3.5 billion. Axiata, Malaysia’s largest cellular firm, owns 63% of edotco and is currently reviewing the offer. The process remains private, and further bids may emerge. This bid follows Innovation Network Corp. of Japan’s decision to sell its 21% stake in edotco, which must be divested by March. Edotco, founded in 2012, manages over 55,000 telecom towers across Asia. Macquarie has recently engaged in significant transactions, including a $663 million acquisition in Seoul.