KUALA LUMPUR (Sept 19): edotco Group Sdn Bhd said today edotco Bangladesh (edotco BD) has become a wholly-owned subsidiary of edotco Group, following completion of the transfer of a 20% edotco BD stake to edotco Group from Robi Axiata Ltd.

edotco Group is a telecommunication infrastructure services company. edotco Group said in a statement today that the edotco BD share transfer is in line with conditions set by the Bangladesh Telecommunication Regulatory Commission (BTRC). 

"In August, edotco announced that it has been selected by the BTRC to obtain a conditional tower sharing license. Upon completion of the conditions, this license will allow edotco to build and manage telecommunications towers for multiple mobile network operators in the country. As part of the conditions, edotco BD cannot retain a mobile network operator as its shareholder. With the transfer, edotco BD moves one step closer to fulfilling the conditions for tower license eligibility.

Suresh Sidhu, chief executive officer of edotco Group said in the statement: “We have been working closely with Robi and our local partners to ensure a smooth transition. We are confident we will be able to fulfill all conditions within the set timeframe and are looking forward to receiving the complete license. edotco is committed to partnering the government and serving the telecommunications industry here.” 

Axiata Group Bhd's website shows edotco Group is an operating company under mobile telecommunication network provider Axiata. Axiata said its owns 69.88% in edotco Group.