Vodafone plans to invest in Bangladesh
British mobile phone giant Vodafone Group PLC has plans to invest in Bangladesh as part of its global expansion drive, Bangladeshi daily The Financial Express reported citing the company's chief executive of Asia, Africa and China operations Gavin Darby.
Darby met with chief adviser's telecom aide M A Malek on Tuesday and formally expressed the company's intention, the daily said.
'Vodafone is interested to invest here. We are excited by the growth possibilities in Bangladesh,' Darby told the paper.
The telecoms company is looking at a number of options including the acquisition of any of the six mobile phone companies now operating in the country, Darby added, although he declined to comment on whether the company was negotiating with any of the mobile operators.
A Vodafone spokesperson in the UK confirmed the company 'is interested in emerging markets with good growth prospects', but would not expand further on the company's plans.
Vodafone has long emphasised its strategy of driving growth through emerging market expansion as its western European markets mature.
The company moved into India last year with the acquisition of Hutchison Essar for 11.1 bln stg, and is looking to increase its stake in South African joint venture Vodacom to use as a springboard for further African expansion.
Vodafone reports its third-quarter key performance indicators tomorrow.
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