Bangladesh’s telecom regulator has finally Approved the Bharti Airtel proposal to invest $300 million in Abu Dhabi Group’s Bangladesh telecommunications asset, Warid Telecom International Ltd which is the Fourth largest mobile company in Bangladesh.

Bangladesh Telecommunication Regulatory Commission(BTRC) Chairman Zia Ahmed said “We have approved the Bharti Airtel plan to buy 70 perecent stake of Warid. We have asked Bharti Airtel to submit the detailed plan of the investment to BTRC in 30 days.”

Mr.Zia also added “We hope that the total investment of Airtel in Bangladesh would cross $1 Billion in few years.” Whatever amount Bharti Airtel would pay to warid for the deal, 5.5% of it would go to BRTC according to the Bangladesh Law.

After the Approval by BRTC, Bharti Airtel has become the first Indian Telecom operator to enter the Bangladesh mobile Market. Currently , Bharti Airtel is one of the leading telecom operators in Asia with more than 113,439,670 customers as of Sep 30, according to the company website and Providing Services in India and Srilanka.

Because of the Tough Competition from Reliance and Vodafone in Indian Mobile Market, Bharti Airtel is looking for its scope in overseas markets with great potential. After failure of its talks with South African firm MTN over dual listing issues, Bharti was desperately looking for an overseas acquisition where growth potentials are huge which it found on Warid.

According to the Report, Both companies, Bharti Airtel and Warid are working on the final MoU which would be signed next week, on the visit of Bangladesh Prime Minister Sheikh Hasina to India. This deal would give strong signals of strengthening bilateral investments between both the countries and will be signed on Jan 12, in a joint session of the three chambers -Assocham, Ficci and CII- where Hasina is expected to address

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