Bharti Airtel to buy 70% stake in Bangladesh's Warid Telecom?

Bharti Airtel the the leading company in India is planning to buy 70 per cent sake in Warid, one of the major telecom companies in Bangladesh, according to media reports. The value of the deal is not clear, and according to reports, Aitel may initially invest $30 crores for the process.

Telecom sector in Banglades is growing fast and its the hub for the telecom majors to invest. Airtel has around 10 subscribers in India and the expansion plan though the acquisition will give more subscribers to it. The Warid Telecom is being controlled by the UAE-based Dhabi Group, which reportedly sought permission from the Bangladesh Telecommunications Regulatory Commission for the sale.