Bharti Airtel, an Indian global telecommunications services company, said its subsidiary has bought an additional 6.3 per cent stake in Bangladesh's telecom operator Robi Axiata from Japanese NTT Docomo for an undisclosed sum.
The all-cash deal will raise the stake of Bharti International (Singapore) -- wholly-owned subsidiary of Bharti Airtel -- in Robi Axiata to 31.3 per cent from 25 per cent at present, the company said on Tuesday in a BSE filing, reports The Times of India.
"...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.
The acquisition of the shares of Robi from Docomo has been done at mutually-agreed valuation.
"The said valuation is non-material and is not disclosed herein due to reasons of confidentiality," it added.
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.