Bharti Airtel arm buys additional 6.3% stake in Robi Axiata from NTT Docomo

Bharti Airtel on Tuesday said its subsidiary has acquired an additional 6.3 per cent stake in Bangladesh's telecom operator Robi Axiata from NTT Docomo for an undisclosed sum. This will raise the stake of Bharti International (Singapore) -- wholly-owned subsidiary of Bharti Airtel -- in Robi Axiata Limited to 31.3 per cent from 25 per cent at present, the company said in a BSE filing.

"...Bharti International (Singapore) Pte Ltd (directly and through its affiliate entities)... has acquired additional 6.3 per cent stake in Robi Axiata Limited (an entity in Bangladesh) from NTT DOCOMO INC and its group entities, on June 09, 2020," it said.

Acquisition of the ordinary shares of Robi from Docomo is done at mutually-agreed valuation.

"The said valuation is non-material and is not disclosed herein due to reasons of confidentiality," it said.

Robi is the second largest mobile network operator in Bangladesh. It is a subsidiary company of Axiata Investments (Labuan) Limited, which is an arm of Asian telecom giant, Axiata Group Berhad, based in Malaysia.

SEE ALSO: These Google Maps pics show how some of the most crowded places in India are at least half empty in Unlock 1.0

Titan doesn’t see full recovery from COVID-19 crisis until early 2021⁠— and now gold prices threaten to squeeze profit