Regulatory Approval Granted for Share Transfer of edotco Bangladesh
Dhaka, 10 November 2016
edotco Group Sdn Bhd (“edotco”) today announced that it has received approval from the Bangladesh Telecommunications Regulatory Commission (“BTRC”) for changes to the shareholding structure of its operating company, edotco Bangladesh Co. Ltd (“EBCL”).
With this approval, edotco is now able to increase its current stakeholding in EBCL of 49% to a majority 80%. Robi Axiata Ltd currently holds 51% shares and will remain as 20% shareholder following completion of the share acquisition.
This approval from BTRC is a strategically significant development both to edotco and to the Bangladesh telecoms industry. It will allow EBCL to operate with a greater level of independence and efficiency to serve its customers, as well as positively and proactively support the sustainable development of telecoms infrastructure sector in the country.
edotco believes this approval will help steer EBCL further towards becoming a key partner in the telecoms industry in Bangladesh and position it for greater contribution to the country through:
- its ability to leverage the combined benefits from edotco Group’s regional synergies, improved efficiencies and innovation to create optimised speed-to-market delivery platforms for its customers and an overall savings in costs that can be extended to the end- customers;
- the solidifying of EBCL’s position as a key driver for telecoms infrastructure investment and the overall development of the infrastructure sub-sector in Bangladesh;
- establishing itself as an active and independent telecoms infrastructure services partner for Bangladesh; and
- supporting the nation’s aspirations of achieving sectoral development under the Digital Bangladesh 2021 initiative.
Suresh Sidhu, CEO of edotco Group said, “We whole-heartedly welcome BTRC’s approval of EBCL’s 31% share transfer from Robi and view this as an acknowledgement of our continued confidence in the Bangladesh market and long-term commitment to further invest in the country to support the development and enhancement of the country’s telecoms infrastructure.”
“This is also in line with our ambition to position edotco as the leading independent telecoms infrastructure services provider in the greater South and Southeast Asia region. This approval will significantly strengthen our service offerings and management capabilities to existing and prospective customers across the country. We fully intend to comply with BTRC’s requirements and hope that we will now be better positioned for a license,” said Suresh.
About edotco Group
Established in 2012, edotco is the first regional and integrated telecommunications infrastructure services company in Asia, providing end-to-end solutions in the tower services sector from tower leasing, co-locations, build-to-suit, energy, transmission and operations and maintenance (O&M).
With a regional portfolio of over 17,000 towers owned and operated across core markets of Malaysia, Myanmar, Bangladesh, Cambodia, Sri Lanka and Pakistan, edotco strives to deliver outstanding performance in telecommunications infrastructure services and solutions. edotco also provides a range of managed services to over 6,000 towers. edotco’s value-added services are supported by state-of-the-art real time monitoring service, echo, which has improved field operations while maximizing operational efficiencies in terms of battery, energy and fuel consumption for telecommunications infrastructure.
edotco Bangladesh was established in 2013 with the objective to provide telecommunications infrastructure services to customers, and in our bid to be the one stop center for telecommunication sites and bandwidth services in Bangladesh. With a footprint of over 7,900 sites nationwide, edotco Bangladesh is well placed with expertise to contribute towards carving the path to transform Dhaka into the Center of Innovation and Excellence, as part of the future towards Digital Bangladesh 2021.
edotco was recently awarded the Frost & Sullivan 2016 Southeast Asia Telecoms Tower Company of the Year Award for its demonstrated exemplary business growth and performance in Southeast Asia.