AKTEL goes fully foreign-owned

Update: 21 September, 2008
AKTEL becomes a 100 percent foreign-owned company as Japanese mobile operator NTT DoCoMo acquires a 30 percent local stake in the company for $350million, according to Bernama.com, Malaysia's official news agency.

AKTEL is now third foreign- owned company after Egypt- based Banglalink and UAE- based Warid.

Foreign Affairs Adviser Iftekhar Ahmed Chowdhury welcomed the NTT's entrance in Bangladesh. "This deal will enhance bilateral relations with Japan," he said.

Prior to NTT's acquisition, AKTEL, Bangladesh's third largest mobile operator, operated as a joint venture company of Malaysia's Telekom Malaysia International (TMI) and AK Khan and Co, a local firm. TMI owns a 70 percent stake in the company.

According to the news report, TMI in a statement on Friday said DOCOMO has completed its purchase of 30 percent stake in TMIB, TMI's mobile telephony company in Bangladesh under the brand name AKTEL, by acquiring all issued and paid-up shares of TMIB held by AK Khan & Co.

"We are excited at the prospect of working with DoCoMo whose wealth of expertise will bring a new perspective as well as invaluable dimension to TMIB," TMI President Datuk Jamaludin Ibrahim was quoted as saying in the news report.