9 Jun 2005
PBTL-SingTel, the newly-formed joint venture between Pacific Bangladesh Telecom Ltd (PBTL) and Singapore Telecom (SingTel), has announced plans to invest in the Bangladeshi PSTN sector by acquiring a stake in the Bangladesh Telephone and Telegraph Board (BTTB) when it is privatised later this year. PBTL-SingTel also plans to invest USD150 million in wireless infrastructure to add 3.5 million mobile subscribers by the end of this year, and says it intends to ‘acquire all other mobile operators in the country’ in the longer term. The joint venture was established following SingTel’s recent acquisition of a 45% stake in PBTL in a deal worth USD118 million. PBTL, operating under the CityCell brand, is currently the third largest cellco in Bangladesh with less than 10% market share.