Airtel Bangladesh, the fourth largest mobile operator in the country, plans to transfer its telecom towers to a subsidiary company.
The company has received regulatory approval to transfer its tower infrastructure to the new company, Bangladesh Infrated Networks Ltd.
The objective of the new company will be to provide and share non-electronic infrastructure and services with other telecom companies, according to Airtel's letter to the regulator.
In a statement, Airtel Bangladesh said: "We formed a separate company to promote sharing of infrastructure last year and have nothing specific to share at this point."
The services of the tower company include development of buildings, shelters, towers or masts, electric power supplies, battery backup, air conditioning, security arrangement, and poles for base transceiver sites, according to the letter.
Bangladesh Telecommunication Regulatory Commission approved the application to form a separate passive infrastructure equipment management company in a meeting on May 21 last year.
Earlier, another mobile operator, Robi Axiata, also shared its tower infrastructure with a tower management company 'e.co', a company of its majority shareholder Axiata of Malaysia.
Times of India, an Indian newspaper reported last week, “Bharti Airtel has put the company's Bangladesh tower assets on its divestiture list as the world's fourth largest mobile telephony firm seeks to raise more than $2 billion from selling its infra networks to bolster cash reserves.”
Airtel's Dhaka office said the Indian newspaper's report was based on market speculation and denied to comment.