Bharti buys majority stake in Bangladesh operator.
India’s Bharti Airtel has acquired a 70% stake in Bangladesh’s fourth-ranked mobile operator Warid Telecom. The deal gives Bharti Airtel control of the management and the board of Warid. A wholly owned subsidiary of the Dhabi Group, Warid would continue to hold a 30% share in the operator after the transaction has been completed. By late 2009 Warid Telecom had around three million subscribers in a total market of about 52 million, giving it just under 6% of the national mobile subscriber base. The Bangladesh mobile market grew by 16% in 2009 and a similar growth pattern was expected in 2010/2011.
Also see web reports:
Bangladesh – Mobile Communications and Broadcasting
India – Mobile Communications – Major Operators.
Tagged in: Asia, India
