Friday , 16 November 2018
Breaking News
Axiata, Airtel to merge operations in Bangladesh

Axiata, Airtel to merge operations in Bangladesh

Axiata Group and Bharti Airtel have signed a definitive agreement to merge their Bangladesh units, namely Robi Axiata and Airtel Bangladesh. Following the completion of the merger, the combined entity operating as Robi will serve nearly 40 million customers. Upon completion, Axiata will hold a 68.3 percent controlling stake in the combined entity, while Airtel will own a 25 percent. The remaining 6.7 percent stake will be held by the existing shareholder NTT Docomo of Japan.

The proposed transaction is subject to receiving approvals from relevant authorities and is scheduled for completion in the first half of this year. The proposed merger is expected to bring greater benefits to customers in terms of network quality and coverage and an improved offering of data products and services. Going forward, the combined capabilities of Robi and Airtel will be directed towards providing customers with a portfolio of mobile and broadband offerings at affordable rates, the companies said.

Article Source

Share and Enjoy

Leave a Reply

Your email address will not be published. Required fields are marked *

*

Email
Print