Vietnam’s Mobifone is eyeing Bangladeshi operator Citycell and is considering acquiring a stake in the telco, according to a report in the Dhaka Tribune.
A delegation from Mobifone was reported to have been in Dhaka this week meeting with local…
Vietnam’s Mobifone is eyeing Bangladeshi operator Citycell and is considering acquiring a stake in the telco, according to a report in the Dhaka Tribune.
A delegation from Mobifone was reported to have been in Dhaka this week meeting with local politicians, regulators and banking officials.
The Vietnamese visited Citycell’s offices and some of its network assets. Citycell’s CEO, Mehboob Chowdhury, was quoted as saying that the delegation was very interested to invest in Bangladesh as broadband was flourishing in the country. However, he said no “bilateral issues” were discussed between the companies.
The government officials were said to be attempting to attract investment into Bangladesh and were “promising all necessary assistance”, according to a telecoms ministry source cited in the report.
Citycell is Bangladeh’s sixth largest mobile operator and had 1.43 million subscribers as of May according to regulator the BRTC.
The operator failed to participate in the country’s 3G auction last year. It was reported to not be able to afford the US$20m deposit required for the tender due to financial issues.
It is 44.54%-owned by Singtel, Pacific Motors Ltd holds a 37.95% stake and the remaining 17.51% is held by Far Eastern Telecom Ltd.
