edotco’s stake in EBCL rises to 80%

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, said the company in a statement  yesterday. This approval from the BTRC is a strategically significant development both for the edotco and the Bangladesh telecoms industry. It will allow the 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, said the statement. 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.”