Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on September 20, 2018

KUALA LUMPUR: edotco Group Sdn Bhd said yesterday edotco Bangladesh (edotco BD) has become a wholly-owned subsidiary of edotco Group, following the 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 yesterday 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 licence. Upon completion of the conditions, this licence 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 shareholder. With the transfer, edotco BD moves one step closer to fulfilling the conditions for tower licence eligibility.

Chief executive officer of edotco Group Suresh Sidhu said: “We have been working closely with Robi and our local partners to ensure a smooth transition.”

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