 | Sunman Group takes over Tele Barta
04 January, 2009
Sunman Group, a leading conglomerate of the country, has acquired Tele Barta Ltd, a private nationwide public switched telephone network (PSTN) operator.
A signing ceremony for taking over Tele Barta Ltd. was held recently at the Board Room of Dhaka Bank Ltd.
Six banks/NBFIs comprising the syndication lenders to Tele Barta under the lead arrangement of Dhaka Bank Ltd took part in the signing ceremony, said a press release issued by Dhaka Bank.
Market operators said Tele Barta's equity sales reflected the dull businesses of 12 PSTNs in the country.
"More PSTNs are in the process to see a safe exit in testimony to the dull business of private fixed phone business, once anticipated as a lucrative one," a market operator hinted.
With this acquisition, the Sunman Group expects to grow at a faster pace than before to deliver fixed-line connection with value added services at a cheaper price.
Tanweer Rahim, Deputy Managing Director of Dhaka Bank Ltd. conducted the signing ceremony while senior executives of all the participating Banks, Sunman Group and the existing sponsors of Tele Barta Ltd were present in the programme.
Sunman Group recently obtained Wi-Max license and having diversified investment in textile, RMG, beverage, financial, pharmaceuticals sectors both in the country & abroad.
Tele Barta Limited, having a subscriber base of 56000 in the whole country, started its operation in 2006. It has a countrywide network through PSTN Microwave Backbone and sophisticated PSTN Technology of world-renowned companies like Siemens and Motorola.
Among others, Mr. Mohammad Abu Musa, Managing Director (Current Charge), Dhaka Bank Limited, Major (Retired) Abdul Mannan, Chairman, Sunman Group, Mr. Hossain Al Masum, Chairman, Tele Barta Limited, Mr. Faruq Moinuddin Ahmed, Deputy Managing Director, AB Bank Limited, Mr. MA Matin, Deputy Managing Director, Uttara Bank Limited, Mr. Daliful Haque, Managing Director, Mr. Ali Mohammad Masud, Senior Vice President, Mr. Md. Shafiqur Rahman, vice president, People's Leasing & Financial Services Ltd were present on the occasion.
Release link:http://www.thefinancialexpress-bd.info/2009/01/04/55041.html
|
|
|
