Bharti Airtel subsidiary acquires additional 6.3% stake in Bangladesh’s Robi Axiata

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Bharti International (Singapore), a whole step down subsidiary of Bharti Airtel limited has acquired an additional 6.3% stake in Bangladesh’s Robi Axiata Limited from NTT DOCOMO INC., the company stated in a BSE filing on Tuesday.

Bharti International (Singapore) currently holds a 25% stake in Robi Axiata Limited. The company has now increased its consolidated shareholding from 25% to 31.3% through acquisition of additional 6.3% stake. Robi Axiata Limited is the second largest telecommunications operator in Bangaldesh.

The stake acquisition will be subject to the approval from Bangladesh Telecommunication Regulatory Commission (BTRC). The deal is a cash consideration with the acquisition of shares done at mutually agreed valuation.

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Avatar of Basil Kannagi Arasu
Basil Kannagi Arasu

Editor-in-chief

Basil keeps an eye on the latest happenings in the Telecom sector. In his free time, you can find him streaming the Premier League which he started watching in 2013.

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