New Delhi: Telecom operator Bharti Airtel on Wednesday announced completion of the merger of its subsidiary Bangladesh telecom unit with Robi Axiata Limited.
Bharti Airtel said it has completed "merger of its subsidiary Airtel Bangladesh Limited with Robi Axiata Limited (Robi Axiata), a unit of Axiata Group Berhad".
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, it added.
"Post merger, Axiata will hold 68.7 per cent stake in the combined entity while Airtel will hold 25 per cent. The remaining 6.3 per cent stake will be held by NTT DoCoMo," the statement said.
The combined entity will be the second-largest mobile operator in Bangladesh with approximately 32.2 million customers and will operate under the Robi Axiata brand.
"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 said.
Airtel entered Bangladesh by acquiring 70 per cent stake in Warid Telecom in 2010 while in 2013, it picked up the remaining 30 per cent too.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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