Robi, Airtel complete merger

Mobile operator Robi today announced the completion of proposed telecom merger with Airtel after getting an approval from the Register of the Joint Stock Companies.

Following the merger of Robi and Airtel, the merged company will be known as Robi Axiata Limited. ‘Airtel’ will remain as an independent product brand of Robi Axiata, says a press release issued today.

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, the release read.

“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.

The joint strength of Robi and Airtel sets the stage for creating the number one network delivering the widest mobile network coverage across Bangladesh, enhancing its stronghold in the mobile internet segment as well as consolidating its position as the second largest operator in the country.