Bharti takes full ownership of Airtel Bangladesh

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Bharti takes full ownership of Airtel Bangladesh
« on: May 26, 2013, 02:41:14 PM »
India’s Bharti Airtel has announced that it will acquire the remaining 30% stake in Airtel Bangladesh, bringing its ownership of the company to 100%. The Economic Times writes that Airtel purchased 70% of the operator, then known as Warid Telecom, in 2010 from Warid Telecom International, part of the Abu Dhabi Group, which has now agreed to sell the remainder. The deal follows hot on the heels of an agreement signed last month that will see Airtel take control of Warid Telecom’s Ugandan subsidiary. TeleGeography’s GlobalComms Database notes that Airtel Bangladesh closed out 2012 with 7.501 million subscribers, equating to a market share of 7.3%, but the unit faces tough competition from five mobile rivals, and local regulator the BTRC reported that its customer total shrank slightly to 7.47 million at the end of March 2013.
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