India’s Bharti Airtel, largest mobile-phone operator of India, has announced to acquire a 70 percent stake in Warid’s Bangladeshi arm with management and board control of the company.
Company statement said that Dhabi Group will retain a 30 percent stake. Announcement was made after Bangladesh Telecom Regulator approved the transaction yesterday.
Warid is ranked fourth by subscribers in Bangladesh, which has 50.6 million users at the end of November, according to the Web site of the Bangladesh Telecommunications Regulator.
Telenor’s Grameenphone Ltd., with a market value of $3.84 billion, is Bangladesh’s biggest wireless operator with 22.8 million customers.
Note: Stats are till end of October 2009, These stats are provided by Bangladesh Telecommunication Authority.
It maybe recalled that Warid already sold its majority stakes in Uganda’s operation to Essar – What’s next in line?