Bharti Airtel Ltd and Malaysia-based Axiata Group Berhad have signed an agreement to merge their respective operations in Bangladesh..AZB & Partners acted for Bharti Airtel with a team led by Delhi Partner Gautam Saha along with Senior Associate Heena Singh..Allen & Overy advised Axiata Group and the team was led by Singapore Partner Chris Moore..Axiata will hold a 68.3% controlling stake in the combined entity, Bharti Airtel 25% and the remaining 6.7% will be held by Japan-based NTT DoCoMo, an existing shareholder..A merger of the two would make the entity a strong No. 2 operator with 39 million subscribers, reports Mint.
Bharti Airtel Ltd and Malaysia-based Axiata Group Berhad have signed an agreement to merge their respective operations in Bangladesh..AZB & Partners acted for Bharti Airtel with a team led by Delhi Partner Gautam Saha along with Senior Associate Heena Singh..Allen & Overy advised Axiata Group and the team was led by Singapore Partner Chris Moore..Axiata will hold a 68.3% controlling stake in the combined entity, Bharti Airtel 25% and the remaining 6.7% will be held by Japan-based NTT DoCoMo, an existing shareholder..A merger of the two would make the entity a strong No. 2 operator with 39 million subscribers, reports Mint.
