Bharti Airtel arm buys 6.3 per cent more stake in Robi Axiata from NTT Docomo
- IBEF
- June 10, 2020
Bharti Airtel's subsidiary bought an additional 6.3 per cent stake in Robi Axiata from NTT Docomo for an undisclosed amount.
Bharti International (Singapore), a whole owned subsidiary (step-down) of Bharti Airtel presently owns 25 per cent stake in Robi Axiata, an entity in Bangladesh. BISPL has acquired additional 6.3 per cent stake in Robi from NTT DOCOMO and its group entities.
The deal was done at mutually agreed valuation.
The company said in BSE fining, "The said valuation is non-material and is not disclosed herein due to reasons of confidentiality."
Robi is a subsidiary Company of Axiata Investments (Labuan) Limited, which is also the subsidiary of the leading Asian telecom giant, Axiata Group Berhad, which is based in Malaysia.
It is the second largest mobile network operator in Bangladesh.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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