Dhaka, Bangladesh (BBN) – Indian telecom giant Bharti Airtel has said that the company is going to introduce its acclaimed ‘Airtel’ brand in the Bangladeshi market within the next six months following its acquiring of 70 per cent stake in Warid Telecom.
Bharti- which is India’s largest cellular service provider, said that it would look to grab one of the two leading positions in Bangladesh’s boming telecom market within the next five years, based on its experience in other emerging markets and a ‘unique business model’.
“Surely, we won’t be happy with Warid’s current number four position or only three million subscribers”, Manoj Kohli, Chief Executive Officer and Joint Managing Director of Bharti Airtel told reporters in the capital, Dhaka on Sunday.
“Our target is to become one of the two leading operators in this country within the next five years time”, Manoj said, adding “Bangladesh’s largely unpenetrated cellular market offers huge opportunity for a relatively new player for further expanding its subscriber base”.
The statement came days after it was announced that Bharti Airtel has formally agreed to acquire 70 per cent of its stake in Warid Telecom- the fourth largest mobile operator in Bangladesh.
Under the agreement, the telecom giant will make a fresh investment of US$ 300 million- the largest amount invested by an Indian company in Bangladesh as part of its foray into the South Asian market following the company’s successful launching in Sri Lanka last year.
However, neither Bharti nor Warid authorities inclined to make any direct remark on whether the introduction of Airtel would mean the end of ‘Warid’ corporate identity in Bangladesh, according to reports.
BBN/SS/SI/AD-18January10-9:40 am (BST)