Telecom major Bharti Airtel and Malaysian firm Axiata defer agreement for merger of Bangladesh operations
Q. Malaysian firm Axiata has deferred agreement for merger of Bangladesh operations with which Telecom major?- Published on 27 Jun 16a. Bharti Airtel
b. Aircel
c. Vodafone
d. Reliance Communications
ANSWER: Bharti Airtel
Telecom major Bharti Airtel and Malaysian firm Axiata have deferred agreement for merger of Bangladesh operations till September 26, 2016.
- Merger of the Bangladesh business will be completed in the first half of this year.
- Bharti Airtel Limited and Axiata Group Berhad agreed the merger has to be expected to be completed in the first half of this year 2016
- Axiata Group Berhad and Airtel on January 28 signed a Definitive Agreement for merging telecom subsidiaries Robi Axiara Ltd and Airtel Bangladesh Ltd
- As per industry sources, enterprise valuation of the merged entity is estimated to be around USD 2 billion
- Following completion of the merger, Axiata will hold 68.3 percent controlling stake and Bharti Airtel had 25 percent while remaining 6.7% will be held by existing shareholder NTT Docomo of Japan.
- Post merger, the combined entity operating as Robi will serve 40 million customers
- Airtel has entered Bangladesh by acquiring 70 percent stake in Warid Telecom in 2010 and picked up 30 percent in 2013.
