Airtel to acquire Bangladesh's Warid Telecom

Written by: Super Admin
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New Delhi, Jan 12: After its failure to seal the multi-billion dollar deal with South Africa"s MTN in 2009, Bharati Airtel is eyeing another international buyout.

The Sunil-Mittal owned telecom major has announced its intentions of buying 70 per cent stake in Bangladesh's Warid Telecom for 300 million dollars.

“This landmark deal underlines our intent to further expand our operations to international markets... we would like to thank the Government of India and Bangladesh for their support and encouragement," Mr. Mittal said shortly after announcing the deal on Tuesday, Jan 12.

If the deal id clinched, Bharati Airtel will have its second operation outside India.

In Jan 2009, Bharati Airtel launched mobile services in Sri Lanka.

Warid Telecom, a wholly-owned subsidiary of the Dhabi Group, offers mobile telecom services and has a user base of over 2.9 million in Bangladesh.

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