Bangladesh’s telecom regulator has approved Bharti Airtel’s US$300 million investment in Abu Dhabi Group’s Warid Telecom. The sum is an initial payment for a 70% stake Bharti intends to buy for a total investment of about US$1 billion.
Bangladesh Telecommunication Regulatory Commission chairman Zia Ahmed said last month: “We have asked Bharti Airtel to submit a detailed investment plan for Warid Telecom within 30 days.” Ahmed added that he expected Bharti to bring new investment to Warid to foster growth of the operator’s network in Bangladesh.
The deal comes as Bharti explores overseas opportunities in light of limited growth in India. The company failed twice to seal a merger with South Africa’s MTN Group, with its latest bid falling through in September as a result of regulatory hurdles (see Connection lost, page 38).
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