The New Nation - Internet Edition

bdnews24.com, Dhaka

Nine companies are vying to operate Broadband Wireless Access (BWA) services in Bangladesh.

Thursday was the deadline for submission of bids to Bangladesh Telecommunication Regulatory Commission (BTRC), who will issue three licenses.

BTRC, who invited bids in August, said a total 12 bid documents were sold, with nine companies eventually submitting bids.

Auction for the licenses will be held on Sept 24.

According to the BWA guidelines, foreign equity is limited to a maximum 60 percent for set up. For non-resident Bangladeshis a maximum 70 percent foreign direct investment is allowed.

Foreign investment shall be made in foreign currency directly equal to percentage of ownership. No bank loan from any Bangladeshi scheduled bank, financial institution or leasing company can be raised for the foreign portion of the investment. Mobile operators in Bangladesh and anyone having invested in any of these companies will not be allowed to bid for a BWA license.

The licensee has to file for initial public offering (IPO) within three years of the issuance of a license.

The licensee shall not be allowed to transfer any shares before issuance of the IPO without prior written permission from the commission.

The license acquisition fee is to be fixed by auction, and annual License Fee Tk 3 crore [BDT 30 million].