Bharti Airtel is making a fresh investment of USD 300 million to rapidly expand the operations of Warid Telecom and have management and board control of the company. This is the largest investment in Bangladesh by an Indian company. Dhabi Group continues as a strategic partner retaining 30% shareholding and has its nominees on the Board of the Company.
The new funding is being utilised for expansion of the network, both for coverage and capacity, and introduction of innovative products and services. As a result of this additional investment, the overall investment in the company will be in the region of USD 1 billion.
This is Bharti Airtel’s second operation outside of India. The company launched its mobile services in Sri Lanka in January 2009 on a state-of-the-art 3.5G network. The company crossed the 1 million customers mark within six months of launch on the back of innovative offerings as well as rapid expansion of network coverage and distribution.