Bharti Airtel may make further inroads found in Bangladesh; buys more stake in telco from NTT Docomo

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One of India’s biggest telecom operators Bharti Airtel has strengthened its presence found in neighboring Bangladesh with acquiring an additional 6.3% stake in Robi Axiata from Japan’s NTT Docomo.

Among India’s biggest telecom operators Bharti Airtel has strengthened its presence in neighboring Bangladesh with acquiring yet another 6.3% stake in Robi Axiata from Japan’s NTT Docomo. “Bharti International (Singapore) Pte. Ltd. (immediately and through its affiliate marketer entities), a complete owned subsidiary (step-down) of the business, has acquired additional 6.3% stake in Robi Axiata Limited (an entity in Bangladesh) from NTT DOCOMO INC. and its group entities,” the business released in a BSE filing without disclosing the number of the deal. As the company previously has stakes in Robi Axiata Small, with today’s announcement, the stake of Bharti International (Singapore) will go up to 31.3 per cent from 25 per cent at present.

The company has received nod from Bangladesh Telecommunication Regulatory Commission (BTRC) for the said package. Robi Axiata is the second largest portable network operator in Bangladesh. The Bangladeshi telecom operator is normally a subsidiary provider of Axiata Investments (Labuan) Limited, which can be the subsidiary of the leading Asian telecom giant, Axiata Group Berhad, located in Malaysia. The acquisition does not fall within related party transactions and you will be accomplished within enough time agreed by both functions, Bharti Airtel explained without disclosing the acquisition period.

Meanwhile, Bharti Airtel shares are anticipated to double found in the coming three years on the back of telecom earnings boom in the united states. Jefferies maintained its get ranking on Bharti Airtel shares with the 12-month cost target of Rs 660 per show. Bharti Airtel’s “fair benefit” could reach Rs 840-1,110 per show by March 2023 as industry earnings expands. “With the marketplace being a digital duopoly, competition reaches the lowest it has ever been,” and which should help sector earnings double over another five years to $38 billion,” a Jefferies note stated just lately. The telecom revenues happen to be also likely to double by FY25 as India offers entered a “tariff discipline period”, the Jefferies report added. Bharti Airtel may very well be the crucial beneficiary upon this welcome news for telecom sector after years of telecom distress due to Reliance Jio’s entry into telecom industry which year’s AGR dues concern.
Source: https://www.financialexpress.com

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