Bharti Airtel arm raise stake in Bangladesh”s Robi Axiata

TIL Desk/Business/New Delhi/ Bharti Airtel”s subsidiary Bharti International (Singapore) has increased its stake in Robi Axiata, a telecom service provider in Bangladesh. Bharti International (Singapore), which had a 25 per cent stake in Robi Axiata, acquired an additional 6.3 per cent stake in the company from NTT DOCOMO and its group entities, said Bharti Airtel in a regulatory filing on Tuesday.

The company, however, didn”t disclose the deal amount. “Acquisition of the ordinary shares of Robi from DoCoMo has been done at mutually agreed valuation. The said valuation is non-material and is not disclosed herein due to reasons of confidentiality,” it said.

Robi is the second largest mobile network operator in Bangladesh and a subsidiary company of Axiata Investments (Labuan), which is the subsidiary of the leading Asian telecom giant, Axiata Group Berhad, based in Malaysia.