Axiata, Airtel complete merger of Bangladesh units

News Wireless Bangladesh 17 NOV 2016
Axiata, Airtel complete merger of Bangladesh units

Axiata Group and Bharti Airtel have announced the completion of the merger exercise of their respective subsidiaries in Bangladesh, namely Robi Axiata and Airtel Bangladesh. Axiata now holds a 68.7 percent controlling stake in the combined entity, while Bharti owns a 25 percent stake. The remaining 6.3 percent continues to be held by the existing shareholder NTT Docomo of Japan. The combined entity will operate as Robi Axiata and will serve around 32.2 million subscribers across Bangladesh.

Axiata and Airtel initially announced their merger plans in Bangladesh on 28 January this year. The merger was completed following the fulfilment of the condition precedent to the agreement and filing of the merger filing with the Registrar of Joint Stock Companies and Firms of Bangladesh Court.

Categories:

Mobile

Companies:

NTT Docomo,  Bharti Airtel,  Airtel,  Axiata,  Robi Axiata

Countries:

Bangladesh

Tags:

Wholesale, M&A buyouts & divestments

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