Grameenphone borrows USD457m in October-November ahead of 3G bid

14 Nov 2012

Bangladesh Bank yesterday gave approval to the country’s largest mobile operator to take loans worth USD355 million from foreign sources, which, according to a senior official of the company, will be used to fund the rollout of a 3G network, reports local newspaper the Daily Star. Last month GrameenPhone borrowed BDT8.46 billion (USD102 million) from 15 banks and financial institutions in Bangladesh as a syndicated term loan towards funding network expansion. The cellco will compete for 3G frequencies with its domestic rivals and a potential foreign new entrant in an auction scheduled for ‘early’ next year; the telecoms ministry has proposed a base bidding price of USD20 million for each paired MHz of 2100MHz spectrum, with bidders allowed to purchase up to 15MHz at a base price of USD300 million, although the details have not yet been finalised by the government.

Bangladesh , GrameenPhone (GP)



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