World VoIP NewsBanglalink mulls stock market listingBanglalink mulls stock market listing

Banglalink mulls stock market listing

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Bangladeshi mobile network, Banglalink is considering floating its shares on the local stock exchange, but only if the government's upcoming budget lowers the taxes on the telecoms sector.
­The stock exchange (DSE) President, Shakil Rizvi confirmed that he had held meetings with Banglalink's chief executive officer (CEO) Ahmed Abou Doma.

Banglalink is a wholly owned subsidiary of Orascom Telecom.

"We discussed the present condition of the country's capital market as well as the prospect of Banglalink," he told The Financial Express newspaper. Mr Rizvi added, "The CEO said his company may go public if the government lessens the Sims-tax and the corporate tax of the telecom companies in the upcoming budget."

When asked, the Banglalink CEO was, however, unwilling to say anything about the time for the company to go public.

A floatation of shares could be necessary to raise funds for the long-delayed 3G license auction which is now expected to take place later this year.

The country currently has six operators - and according to figures from the Mobile World, ended Q1 of this year with just over 55 million mobile subscribers - which is still a population penetration level of around 35%. Also worth noting is that while the country has six operators, only four of them are of any significant scale, Grameenphone (23.9m), Banglalink (14.2m) and Aktel (11.8m) and finally, Warid Telecom (2.9m). The two remaining long term incumbents, Citycell and Teletalk add up to 2.9 million customers between them.

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