DoCoMo to Buy 30% Stake in Aktel of Bangladesh
May 23, 2008
Japanese telecom operator NTT DoCoMo recently unveiled its plan to pay 40 billion Yen (US$380.0 million; US$1=105.3 Yen) for a 30% stake in a Bangladesh-based telecom operator Aktel, with an aim to boost its overseas market presence, according to a report by Reuters on May 21. With its mobile phone penetration rate reaching 26%, Bangladesh currently has 40 million mobile phone subscribers.
According to the same report, NTT DoCoMo will buy the 30% stake from Bangaldesh-based AK Khan and team up with Telecom Malaysia, which holds the majority share of 70% in Aktel. Final decision is expected to be announced by the end of May at the soonest, also according to Reuters. Further details, therefore, were not yet available.