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Bangladesh: Airtel and Axiata merge
Bharti Airtel Ltd and Malaysia-based Axiata Group Berhad have signed an agreement to merge their respective operations in Bangladesh—Airtel Bangladesh Ltd and Robi Axiata Ltd—to create the second largest telco in that country. Post-merger, the combined entity operating as Robi will serve approximately 40mn customers. The proposed transaction is subject to conditions precedent including receiving applicable approvals from relevant authorities and is expected to complete in the first half of 2016.
Axiata will hold a 68.3% controlling stake in the combined entity, Bharti Airtel 25% and the remaining 6.7% will be held by Japan-based NTT DoCoMo, an existing shareholder.