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.
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