Bharti Airtel Limited announced the completion of the merger of its subsidiary Airtel Bangladesh 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.
Post the merger, Axiata will hold 68.7% stake in the combined entity, while Airtel will hold 25%. The remaining 6.3% stake will be held by NTT DoCoMo.
The combined entity will be the second largest mobile operator in Bangladesh with approx. 32.2 million customers and will operate under the Robi Axiata brand. It is well positioned to deliver an unparalleled portfolio of innovative mobile and broadband offerings at affordable rates with deep network coverage.
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.
“The merger strengthens the long-term sustainability of the Bangladesh telecoms landscape and business environment, and will secure faster nationwide rollout of mobile broadband as well as contribute significantly to the overall economy of the country,” the company said.
NTT DoCoMo is a competitor to the Indian company in its home market via its stake in Tata DoCoMo.