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Bharti Airtel Ltd (Airtel) on Wednesday said it has completed the merger of its subsidiary Airtel Bangladesh Ltd with Robi Axiata Ltd (Robi Axiata), a unit of Axiata Group Berhad (Axiata).
Post the merger, Axiata will hold 68.7 per cent stake in the combined entity, while Airtel Bangladesh will hold 25 per cent. The remaining 6.3 per cent stake will be held by NTT DoCoMo, Airtel said.
The combined entity will be the second largest mobile operator in Bangladesh with around 32.2 million customers and will operate under the Robi Axiata brand.
It is well positioned to deliver an unparalleled portfolio of innovative mobile and broadband offerings at affordable rates with deep network coverage, it said.
“The merger was completed following the fulfilment of the condition precedents to the agreement and filing of the merger order with the Registrar of Joint Stock Companies and Firms of Bangladesh Court today,” the company said.
The merger of Robi and Airtel would deliver the widest mobile network coverage across Bangladesh, enhancing its mobile internet segment as well as consolidating its position as the second largest operator in the country, it said.
Currently, Grameenphone is the largest telecom operator in Bangladesh with around 50 million subscribers. The agreement between Aritel and Robi for the proposed merger was signed in January.
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