Bangladesh telecom regulator BTRC has approved Robi’s proposal for transferring 49 percent of its network infrastructure shares to Edotco Group.
Both Robi and Edotco Group are subsidiaries of Malaysian Axiata Group.
Robi will receive around Tk 540 crore from Edotco Group, the operator said in its application seeking permission from BTRC.
The money will be spent on the upgrading of network infrastructure or non-telecom equipment, which includes towers, buildings, batteries, power and cooling systems.
In June, BTRC (Bangladesh Telecommunication Regulatory Commission) postponed Robi’s proposal for transferring 80 percent of its telecom network infrastructure shares to Edotco due to lack of relevant guidelines.
BTRC officials say Robi will be allowed to transfer the shares when the guideline is formed.
The telecom regulator has approved the Robi proposal because the share transfer will assist Edotco to strengthen its business. This apart, the telecom tower proposal will help other mobile operators to improve their network in a more cost-effective way, said Md Ahsan Habib Khan, vice chairman of BTRC.
“We are pleased and welcome the decision of the BTRC. We firmly believe this is timely and will enable better infrastructure development in the telecom sector in Bangladesh,” said Matiul Islam Nowshad, chief corporate and people officer of Robi.