GrameenPhone signs IP backbone deal with Ericsson, expects IPO

13 Feb 2007

Ericsson has signed a deal with Bangladeshi mobile market leader GrameenPhone to build and integrate a nationwide IP mobile backbone network. The contract marks GrameenPhone’s first step towards an all-IP network. Ericsson has been awarded the full turnkey project, with end-to-end responsibility for the design, deployment and systems integration of the new infrastructure.

Also this week, Muhammad Yunus, head of GrameenPhone’s part-owner Grameen Bank, announced that he wants to list the cellco on the local stock market and offer one share to each of the bank’s 6.91 million borrowers. GrameenPhone is 62%-owned by Norway’s Telenor with the other 38% held by Grameen Telecom, itself wholly owned by Grameen Bank.

Bangladesh , Ericsson, GrameenPhone (GP)

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