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Telenor Expresses Concern Over Bangladesh Shareholder
Published on:
Norway's Telenor has expressed concern about attempts by the Bangladesh government to shake up a large minority shareholder in its local subsidiary, Grameenphone.
Telenor owns 55.8% of the local mobile network, with 34.2% owned by Grameen Telecom Corp, a legally independent and non-profit organisation.
The Bangladesh government is currently trying to claim that it owns Grameen Bank, and all 54 organisations that share the Grameen name. However, counter arguments are that even if the government can claim ownership of Grameen Bank, the other organisations, including Grameen Telecom are nothing to do with it.
The issue is significant as dividend payments from Grameenphone to Grameen Telecom could end up going to the government if the claim can be proven.
"We expect the government to comply with both local laws and international treaties that protect the rights of foreign investors," Telenor said in a statement sent to local media.
On the web: Daily Star
Tags: [grameenphone] [telenor] [Bangladesh]
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