Info-tech

Bharti Airtel subsidiary acquires additional 6.3% stake in Robi Axiata

Our Bureau Mumbai | Updated on June 09, 2020

Bharti International (Singapore) Pte. Ltd, a subsidiary of Bharti Airtel, has acquired an additional 6.3 per cent stake in Bangladesh’s second largest mobile operator Robi Axiata, in a cash deal. However, the financial terms of the deal were not immediately disclosed.

The Indian company acquired the stake from NTT DoCoMo and its group entities. Bharti International currently owns a 25 per cent stake in Robi Axiata, and following this deal, its stake in Robi Axiata has risen to 31.3 per cent, Bharti Airtel said in an exchange filing.

Robi is a subsidiary company of Axiata Investments (Labuan) Ltd, which is also the subsidiary of the leading Asian telecom giant, Axiata Group Berhad, based in Malaysia.

Earlier in 2010, Airtel had acquired 70 per cent stake in Bangladesh’s Warid Telecom, and picked up the remaining 30 per cent stake in Warid Telecom later in 2013.

In 2016, Bharti Airtel and Robi Axiata announced the merger of its operations in Bangladesh, with Axiata holding 68.7 per cent controlling stake in the combined entity. Bharti Airtel was holding a 25 per cent and the rest 6.3 per cent by NTT DoCoMo.

Published on June 09, 2020

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like