Bharti’s 100% Airtel Bangladesh takeover receives state approval

5 Jul 2013

Bharti Airtel’s recently-agreed purchase of the remaining 30% stake which it did not already own in subsidiary Airtel Bangladesh has received approval from the Bangladeshi government. The Indian giant has purchased the stake for approximately USD80 million from Warid Telecom International, part of the Abu Dhabi Group, representing a knock-down share price compared to its original acquisition of a 70% stake for around USD300 million in 2010. The Ministry of Posts and Telecommunications (MoPT) gave its approval to the deal, which was agreed by the two parties on 29 April 2013, and the ministry notified the National Board of Revenue (NBR), the Board of Investment (BoI), the Registrar of Joint Stock Companies and the Bangladesh Telecommunications Regulatory Commission (BTRC).

Bangladesh , Airtel Bangladesh, Bharti Airtel, Ministry of Posts, Telecoms & Information Technology (MoPTI)

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