India's Bharti Airtel today said its subsidiary has acquired an additional 6.3 percent stake in Bangladesh's telecom operator Robi Axiata from NTT Docomo for an undisclosed amount.
This will raise the stake of Bharti International (Singapore) -- a wholly-owned subsidiary of Bharti Airtel -- in Robi Axiata Limited to 31.3 percent from the 25 percent at present, the company said in a filing before the National Stock Exchange in Mumbai, reports our New Delhi correspondent.
"...Bharti International (Singapore) Pte Ltd (directly and through its affiliate entities)... has acquired an additional 6.3 percent stake in Robi Axiata Limited (an entity in Bangladesh) from NTT DOCOMO INC and its group entities, on June 9, 2020," it said.
Acquisition of the ordinary shares of Robi from Docomo is done at a mutually-agreed-upon valuation.
"The said valuation is non-material and is not disclosed herein due to reasons of confidentiality," the filing said.
Recently, Robi -- the second-largest telecom operator the country -- got approval from the Bangladesh Telecommunication Regulatory Commission (BTRC) to hand over its 6.3 percent share to Indian multinational company Bharti Airtel.