KUALA LUMPUR: edotco Bangladesh (edotco BD), an integrated telecommunications infrastructure services company in Bangladesh, has recently completed the transfer of 20 per cent stake held by Robi Axiata Ltd.
In a statement released today, the stake’s transfer will result edotco BD becoming a wholly owned subsidiary of edotco Group, in line with the 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 incense.
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.
edotco group chief executive officer Suresh Sidhu said the company has been working closely with Robi together with local partners to ensure a smooth transition.
“We are confident we will be able to fulfil all the conditions within the set time frame and are looking forward to receiving the complete license. edotco is committed to partnering the government and serving the telecommunications industry here,” he said.
edotco BD, a wholly owned telecommunication infrastructure services subsidiary of Axiata Bhd, has been at the forefront of the country’s tower infrastructure landscape since 2013, providing end-to-end solutions in the tower services sector from tower leasing, co-locations, build-to-suit, energy management, transmission and operations and maintenance.
The company recently announced Getco, a prominent Bangladesh-based conglomerate as a 30 per cent shareholder and strategic partner.
Through its subsidiary Greencon Tower Company Ltd, Getco will partner with edotco to provide next-generation infrastructure to meet the country’s growing connectivity needs.