Mobile operator Robi and Airtel today have started their journey as a merger company.
Mobile operator Robi announced the completion of proposed telecom merger with Airtel after getting an approval from the Register of the Joint Stock Companies.
The company will be known as Robi Axiata Limited from today.
Robi`s Vice President Ekram Kabir said, “Today Robi has completed its merger with Airtel. The merger company will conduct its business activities in name of Robi Axiata Limited.”
In completing the first telecom merger as well as the country’s largest merger, Axiata now holds 68.7 percent controlling stake in the combined entity, while Bharti holds 25 percent. The remaining 6.3 percent will be held by the existing shareholder, NTT DOCOMO of Japan.
The combined entity will serve approximately 3.22 crore subscribers.
“We are pleased to have reached the completion phase of the merger with Airtel,” said Mahtab Uddin Ahmed, managing director and chief executive officer of Robi.
He said the merger strengthens the long-term sustainability of Bangladesh telecoms landscape and business environment and will secure faster nationwide rollout of mobile broadband as well as contribute significantly to the overall economy of the country.