NTT DoCoMo announced plans to acquire a 30% stake in Bangladesh’s third largest wireless carrier for $350 million. In a statement, DoCoMo said it would buy a 30% stake in TM International Bangladesh, which offers mobile services under the brand Aktel. The carrier is 70% owned by a Telekom Malaysia spin off. As of April, Aktel said it had 7.57 million subscribers.
DoCoMo said it will participate in the carrier’s management and “actively draw on its expertise to enhance the company’s business.” The Japanese carrier is purchasing a stake currently owned by AK Khan, a privately owned company. The deal is expected to close by the end of this year.
Bangladesh is one of the world’s fastest growing wireless markets, with a penetration rate of about 26% and about 40 million mobile users.