VEON Ltd. (NASDAQ: VEON) (Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, announces that its operating company in Bangladesh, Banglalink, has acquired 4.4MHz spectrum in the 1800MHz band and 5MHz spectrum in 2100MHz band following successful bids at an auction held by the Bangladesh Telecommunication Regulatory Commission on 8 March 2021.
The newly acquired spectrum will see Banglalink increase its total spectrum holding from 30.6MHz to 40MHz, enabling it to retain the leading position among all private operators in Bangladesh in terms of spectrum provided per subscriber. Banglalink will invest approximately BDT1,000 crore (USD115m1) to purchase the spectrum, which is one of the largest investments made by an operator in the country in recent times. The increased spectrum holding is expected to enable Banglalink to maintain network superiority and bolster its efforts for nationwide 4G expansion.
Erik Aas, Banglalink's Chief Executive Officer, said: "Banglalink's acquisition of this additional spectrum is yet another landmark in our endeavour to serve our customers as a digital service provider. With the Ookla® certified fastest mobile network in the country for the year 2020, we continue to be focused on performance and have made significant improvements in key indicators such as market share, data revenue and data customer base. The spectrum we are acquiring today will help us capitalize on this success and we expect it to further increase customer satisfaction."
1Based on 84.94 USD/BDT