Bangladesh regulators clear Bharti Airtel's acquisition of Warid

05 Jan 2010

1

The Bangladesh Telecommunication Regulatory Commission (BTRC) has approved Bharti Airtel's proposed $300 million investment in Warid Telecom, the country's fourth-largest mobile service provider.

The $300 million is an initial payment and Bharti could end up paying more for a 70 per cent stake in Warid Bangladesh, regulatory sources said.

Bharti Airtel is acquiring a 70 per cent stake held by the Abu Dhabi Group in the Bangladesh company and the regulator said the money would be spent on network expansion.

The Abu Dhabi Group, a consortium of investors that includes members of the royal family of Abu Dhabi, will retain the rest of Warid.

The deal, according to reports published in the country's print media last month, could be worth as much as $900 million.

Though details of the deal were not announced, the transaction is expected to cost Bharti Airtel over $1 billion.

Business History Videos

History of hovercraft Part 3 | Industry study | Business History

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2 | Industry study | Business History

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1 | Industry study | Business History

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | Industry study | Business History

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more
View details about the software product Informachine News Trackers