Airtel, Axiata Close Merger In Bangladesh

Bharti Airtel Wednesdy said it has completed the merger formalities of its subsidiary Airtel Bangaldesh with Robi Axiata. The merger was announced in January this year.

The merger was completed following the fulfilment of the condition precedents to the Agreement and filing of the merger order with the Registrar of Joint Stock Companies and Firms of Bangladesh Court today.

Post the merger, Axiata will hold majority share of 68.7% in the combined entity, while Airtel will hold 25%. The remaining 6.3% stake will be held by NTT DoCoMo.

“There is a compelling rationale for bringing together the strengths of both entities. The combined entity will be well positioned to leverage the operational synergies to serve customers better with world-class services and contribute to the growth of the telecommunications sector in Bangladesh,” Gopal Vittal, managing director and CEO (India and South Asia), Bharti Airtel had said in January.

The combined entity will be the second largest mobile operator in Bangladesh with approx. 32.2 million customers and will operate under the Robi Axiata brand. It is well positioned to deliver an unparalleled portfolio of innovative mobile and broadband offerings at affordable rates with deep network coverage.

The joint strengths of Robi and Airtel sets the stage for the company to deliver the widest mobile network coverage across Bangladesh, enhancing its stronghold in the mobile internet segment as well as consolidating its position as the second largest operator in the country.

Airtel thanked the Ministry of Posts and Telecommunications and the Bangladesh Telecommunication Regulatory Commission for their support during the merger process. The merger strengthens the long-term sustainability of the Bangladesh telecoms landscape and business environment, and will secure faster nationwide rollout of mobile broadband as well as contribute significantly to the overall economy of the country.

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