Bharti Airtel’s subsidiary (Bharti International, Singapore) has acquired an extra 6.3% stake in Robi Axiata from NTT Docomo for an undisclosed amount. With this acquisition, Bharti International (Singapore)- a wholly-owned auxiliary of Bharti Airtel will have a jump to 31.3% from its prior 25% stake in Robi.
A mutual agreement between both the companies resulted in a successful acquisition of the ordinary shares of Robi from Docomo.
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“The said valuation is non-material and is not disclosed herein due to reasons of confidentiality,” the filing said.
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Recently, the organization reportedly publish the information in a filing before the National Stock Exchange in Mumbai. Notably, Bharti Airtel had merged its Bangladesh-based unit with Robi Axiata in November 2016 to strengthen its position in the country’s telecommunication industry.
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