Bharti Airtel Ltd,
"The Bangladesh Telecommunication Regulatory Commission (BTRC) has approved Airtel's proposed $300 million investment to buy
This deal will enable Bharti Airtel to enter the lucrative neighbourhood market. The nod comes after six months of pursuit since the
Mr Ahmed said that Airtel would take over 70% stake in Warid by creating new shares possibly at a nominal price.
"The BTRC has given the go-ahead to transfer
The purchase will make Bharti the newest foreign company to make inroads into the fast-growing Bangladeshi mobile market. Launched in 2007, Warid has nearly three million subscribers in
Airtel is the fourth foreign company to enter the
Airtel's move into Bangladesh's market comes after its plan to buy a stake in South Africa's MTN collapsed in September last year as Pretoria said that such a merger could lead to MTN losing its national character.
Warid is the sixth-largest mobile phone operator in
Zia Ahmed said "We hope Airtel's investments would cross $1 billion in the next few years."
— Yogesh Sapkale