Warid Telecom, a wholly-owned subsidiary of the Dhabi Group, offers mobile telecom services with a user base of over 2.9 million in Bangladesh.
Bharti Airtel, India's number one cellular operator on Tuesday received the nod from Bangladesh's telecom regulator to purchase 70 per cent stake in Warid Telecom and to invest $300 million in the company.
Already with a presence in Kenya's telecom sector through a brand called 'Yu', Essar is looking to strengthening its foothold in the rapidly growing African market.
Sunil Mittal-owned Bharti Airtel had acquired 70 per cent stake in Warid Telecom of Bangladesh for $300 million (about Rs 1,363 crore) earlier this year.
The Bharti group, which has just acquired a majority stake in the Bangladeshi mobile operator Warid Telecom, is on the lookout to acquire government-owned telcos in developing markets like Africa which are up for divestment.
The eight-member SAARC region includes Bangladesh, Bhutan, Maldives, Nepal, Pakistan, India, Sri Lanka and Afghanistan. Gupta also hoped that the 3G auction would take place on time.
Two years ago, the number was 4,000, according to Indian businessmen.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances