Singapore Telecom (SingTel) has purchased a 45% stake in the third largest wireless operator in Bangladesh, CDMA provider Pacific Bangladesh Telecom (PBT). The telco’s USD118 million acquisition includes a call option to increase its stake to 60% for an additional USD65 million, exercisable in 2007 (between 1 April and 30 June). The move forms part of SingTel’s wider expansion drive in southern Asia. Earlier this month it reported that it had increased its stake in India’s Bharti Tele-Ventures to 30.84%, and it is currently bidding for a 26% stake in Pakistan Telecommunications Company Ltd. The company has invested around USD20 billion in the last few years to purchase stakes in Asian telecoms companies; it is listed as Asia’s fifth largest telco by market value.
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