Japanese operator NTT Docomo is selling its 6.3% stake in Robi Axiata to Bharti International, marking its full exit from the Bangladeshi market.
Robi Axiata’s majority stakeholder is Malaysian Axiata Group, which holds a 68.7% stake in the unit. India’s Bharti Airtel holds the remaining 25% after its local unit Airtel Bangladesh merged with Robi in November 2016.
Prior to this merger, Axiata Group held 91.6% of Robi, with NTT Docomo taking the remaining 8.4% stake. Now that Docomo is selling up, Bharti will hold 31.3% of Robi, which is the second largest operator in Bangladesh.
Jahurul Haque, chairman of Bangladeshi regulator BTRC (Bangladesh Telecommunication Regulatory Commission), confirmed that Docomo’s proposal had received approval, with the regulator recommending the sale to the telecom ministry.