BTRC approves share transfer of edotco Bangladesh

Edotco Group Sdn Bhd (edotco) yesterday 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 per cent to a majority 80 per cent. Robi Axiata Ltd currently holds 51 per cent shares and will remain as 20 per cent shareholder following completion of the share acquisition, says a press release.
This approval from BTRC 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, it added.
Suresh Sidhu, CEO of edotco Group said, “We whole-heartedly welcome BTRC’s approval of EBCL’s 31 per cent 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.”
“ We fully intend to comply with BTRC’s requirements and hope that we will now be better positioned for a license,” said Suresh.

BTRC approves share transfer of edotco Bangladesh

Edotco Group Sdn Bhd (edotco) yesterday announcedthat 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 per cent to a majority 80 per cent. Robi Axiata Ltd currently holds 51 per cent shares and will remain as 20 per cent shareholder following completion of the share acquisition, says a press release. This approval from BTRC 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, it added. Suresh Sidhu, CEO of edotco Group said, We whole-heartedly welcome BTRCs approval of EBCLs 31 per cent 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 countrys telecoms infrastructure. We fully intend to comply with BTRCs requirementsand hope that we will now be better positioned for a license, said Suresh.