Malaysia’s Axiata and India’s Bharti Airtel announced yesterday that the legal merger of their Bangladeshi mobile subsidiaries Robi Axiata and Airtel Bangladesh has been completed, and the new company will now operate under the Robi name. Axiata’s statement confirms that the parties registered their merger filing with Bangladesh’s Registrar of Joint Stock Companies & Firms (RJSC). Its statement added: ‘Pursuant to the above and in accordance with the [merger] Agreement, the Proposed Merger is completed today [16 November 2016] and the parties are in process to obtain the Merged Licence and completion of other procedural and/or administrative formalities.’
The merger of Bangladesh’s third (Robi Axiata) and fourth (Airtel) placed cellcos – agreed in January this year – creates a new second-ranked cellco behind GrameenPhone and in front of Banglalink in user number terms. The new Robi is owned by Axiata (68.7%), Bharti Airtel (25.0%) and Japan’s NTT DOCOMO (6.3%).