Bharti Airtel Arm Acquires Additional 6.3% Stake In Robi1 min read

430

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.

Read More: LankaBangla Donates BDT 20 Million To Battle Coronavirus

“The said valuation is non-material and is not disclosed herein due to reasons of confidentiality,” the filing said.

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.

For more latest updates, be with Markedium.

Get real time updates directly on you device, subscribe now.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy

Pin It on Pinterest