What me, Warid? SEC threatens legal action against cellco

3 Sep 2010

Cellular operator Warid Telecom Bangladesh has been ordered by the country’s Securities and Exchange Commission (SEC) to comply with legislation obliging any company with paid-up capital of more than BDT400 million (USD6 million) to convert into a public limited company (PLC). An SEC official told The Financial Express that the regulator is likely to launch legal action against private limited companies that fail to list themselves on the stock market. India’s Bharti Airtel acquired a 70% stake in Warid Telecom Bangladesh earlier this year, with the remainder, held by the Abu Dhabi Group, and the company is expected to be rebranded as Airtel Bangla by the end of this year.

Bangladesh , Airtel Bangladesh

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