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Airtel may sign MoU with Warid during Hasina`s visit

Last Updated: Friday, January 8, 2010 - 20:25

New Delhi: Bharti Airtel is likely to sign an agreement with Bangadeshi firm Warid Telecom for acquiring 70 percent stake during Prime Minister Sheikh Hasina`s visit to India next week.

Sources said the finer details of the deal are being worked out and both the companies would sign an MoU to this effect.
A corporate deal during Hasina`s visit is planned to send a signal on strengthening bilateral investments between both the countries.

The deal could be signed on January 12 in a joint session of the three chambers-- Assocham, Ficci and CII-- where Hasina is expected to address, sources said.

A Bharti Airtel spokesperson said at the moment it has nothing further to add from what it has said earlier: "We keep evaluating international expansion opportunities from time to time. However, at this point, we do not have anything definite to share."

After failure of its talks with South African firm MTN over dual listing issues, Bharti was desperately looking for an overseas acquisition where growth potentials are huge which it found on Warid.
Bharti Airtel, India`s number one cellular operator last week received the nod from Bangladesh`s telecom regulator to purchase 70 percent stake in Warid Telecom and to invest USD 300 million (Rs 1,385 crore) in the company.


First Published: Friday, January 8, 2010 - 20:25

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