Foreign owners of mobile operators are reluctant to accept the new telecom policy!

After the BNP, foreign owners of mobile operators have expressed deep concern about the new telecom policy. In the draft policy, it has been proposed to limit foreign ownership in mobile phone companies to a maximum of 85 percent. Raising objections to this, Telenor, Veon and Axiata Group have written to Chief Advisor Dr. Muhammad Yunus. In the letter, it has been mentioned that the move to limit foreign ownership will tarnish Bangladesh’s image in the world. There is extensive discussion and criticism about the new telecom policy, which has taken the initiative to reform after a decade and a half. It has gained more momentum after the BNP’s concerns. Mobile operators have now also joined the list of criticism. In the new draft policy, it has been proposed to keep foreign ownership in mobile phone operator companies to a maximum of 85 percent. In the case of other operators, this limit is a maximum of 55 percent. The objection is here. Currently, 55.8 percent of Grameenphone’s shares are in the hands of Norway’s Telenor. The remaining 44.2 percent is with domestic entrepreneurs. Robi’s 90 percent shares are in the hands of Malaysia’s Axiata Group. 10 percent is in the capital market. Banglalink is 100 percent owned by Dubai-based Veon. Under the new rules, Robi will have to sell another 5 percent and Banglalink 15 percent shares. Robi’s Chief Corporate and Regulatory Affairs Officer Shahed Alam said that another 10 percent shares can be sold to the capital market, but before that, it will be necessary to see whether the capital market has the capacity to take it. It is not possible to give a commitment of 80 percent without considering this. Telenor, Veon and Axiata Group have written to the chief advisor expressing concerns about the new proposal. Where it is mentioned that the move to forcibly limit ownership will reduce the confidence of foreign investors. The initiative to take the international SMS business away from mobile operators is being seen as an unwanted intervention by the regulatory agency. However, the final decision will be taken after discussion, said Faiz Ahmed Tayyab, Special Assistant to the Chief Advisor (Ministry of Posts, Telecommunications and Information Technology). He said that it may be a little more or less after discussion. However, foreign investment is not being hindered through this. Rather, a limited protection measure is being provided for the locals through this. It is worth noting that currently, out of a total of 187.6 million mobile connection holders in the country, 181 million are customers of Grameenphone, Robi and Banglalink.