Bharti Airtel’s subsidiary raised its stake in Robi Axiata from NTT Docomo by purchasing an additional 6.3 per cent stake in Bangladesh’s telecom firm for an undisclosed sum, the Indian major telcos said on Tuesday.
In a BSE filing, the company said this move will raise the stake of Bharti International (Singapore), a wholly-owned subsidiary of Bharti Airtel, in Robi Axiata Limited to 31.3 per cent from 25 per cent at present.
“…Bharti International (Singapore) Pte Ltd (directly and through its affiliate entities)… has acquired additional 6.3 per cent stake in Robi Axiata Limited (an entity in Bangladesh) from NTT DOCOMO INC and its group entities, on June 09, 2020,” it said.
Acquisition of the ordinary shares of Robi from Docomo is done at mutually-agreed valuation.
“The said valuation is non-material and is not disclosed herein due to reasons of confidentiality,” it said.
Robi is the second largest mobile network operator in Bangladesh. It is a subsidiary company of Axiata Investments (Labuan) Limited, which is an arm of Asian telecom giant, Axiata Group Berhad, based in Malaysia.