Bharti Airtel, Axiata explore merging Bangladesh operations

axiataAxiata Group Berhadand Bharti Airtel Limited said they have entered into an exclusive discussion to explore the possibility of combining the business operations of their telecommunication subsidiaries in Bangladesh; namely, Robi Axiata Limited and Airtel Bangladesh Limited.

Malaysia-based Axiata holds a stake of around 20% in Idea Cellular in India.

“There is no certainty that this discussion will lead into the execution of binding definitive agreements between the Parties.”

This announcement is to facilitate the on-going discussions and exchanges of information between the Parties, including but not limited to discussions with the relevant regulatory authorities, they said.

“Axiata and Bharti will issue further announcement in the event there is any material development on this matter.”