wordpress blog stats
Connect with us

Hi, what are you looking for?

Updated: Bharti Airtel To Buy 70% Stake In Warid Telecom; The Bangladesh Telecom Market

Update: Bangladesh's telecom regulator today approved Bharti Airtel's plan to acquire 70 percent stake in telecom operator Warid Telecom.  Reuters reports Airtel will invest an initial amount of $300 million for expanding Warid's network in Bangladesh. We are awaiting an official response from the company. Strangely enough, Airtel is still maintaining silence on the bid: "We have no comments to offer beyond our initial statement." For details of the Bangladesh Telecom market, and how Warid is placed, read on. Earlier Story (Dec 16): After its failed attempt at merging with South African operator MTN, India's largest cellular operator Bharti Airtel is scouting for international acquisitions. The Daily Star reports that Airtel has sought the approval of the Bangladesh Telecommunication Regulatory Commission (BTRC) to pick up 70 percent stake in Warid Telecom, owned by the Abu Dhabi group. The report quotes unnamed Warid executives who have valued the deal at $900 Million. Post signing the deal, Airtel also plans to invest an initial $300 million in the company. Warid is one of six operators in Bangladesh, a country with 51.4 million mobile subscribers as of October 2009. An auction of 3G spectrum in Bangladesh is scheduled for 2010. Note that Bharti has neither confirmed nor denied plans to buy Warid. When contacted, a Bharti spokesperson told MediaNama, "We keep evaluating international expansion opportunities from time to time. However, at this point, we do not have anything definite to share." The Wall Street Journal reports that Akhil Gupta, deputy group CEO and MD at Bharti Enterprises, said that "We have been interested…

Please subscribe/login to read the full story.
Written By

http://www.linkedin.com/in/preethij

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement

News

Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?

News

A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'

News

India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...

News

There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ