Airtel- Warid deal receive regulatory nod

www.WirelessFederation.com/news: By receiving the regulatory approval to pay $300 million for a 70% stake in Bangladesh’s fourth-largest cellco Warid Telecom via a new share issue, Bharti Airtel has strengthened its Asian asset portfolio.

If the move is successful, Indian mobile behemoth can compete with global magnates Telenor, Axiata and Orascom Telecom in Bangladesh. The moves have become imperative for Bharti in order to help prop up its profits from the low ARPU, highly competitive Indian market. Kuwait’s Zain Telecom and Sweden’s Millicom International Cellular are also on its target.

Late last year, South African government’s disapproval led to the failure of the Airtel’s deal to merge with South African giant MTN. However, for Bangladeshi investment, Airtel have big plans hoping the investment to surpass a total of $1 billion in the next few years.