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

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.