New Delhi: The merger between Bharti Airtel Ltd and Robi Axiata Ltd was completed on Wednesday to create the second largest telecom company in Bangladesh.
In January, Bharti Airtel’s subsidiary, Airtel Bangladesh Ltd signed a merger agreement with Robi Axiata, a unit of Malaysia-based Axiata Group Bhd.
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“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," Bharti Airtel said in a statement.
The combined entity would have 32.2 million customers on its network, making it the second largest network in Bangladesh.