Bharti Airtel has revealed that the operator service provider will take hold of the remaining 30 percent stake in Warid Group’s telecom operations in Bangladesh. The acquisition will happen under the Bharti Airtel Holdings (Singapore), which is a wholly-owned subsidiary of Bharti Airtel. Also Read - 4G spectrum auction: Reliance Jio comes out as highest bidder, Airtel follows
In a process to expand its reach around world, Airtel had acquired 70 percent stakes of the Warid’s operations in Bangladesh in January 2010. This information has been given in a filing to the BSE (Bharat Stock Exchange) which mentions that, “Bharti Airtel Holdings (Singapore) Pte Ltd, a wholly-owned subsidiary of Bharti Airtel Ltd and Warid Group have reached an agreement, wherein, Bharti will acquire 30 percent equity stake of Warid in Airtel Bangladesh Ltd.”
With this stake acquisition, Bharti Airtel will gain complete ownership of the Bangladeshi carrier. The cost of acquisition was not revealed.