Egypt's telecom giant Orascom Telecom Holding says its Bangladeshi subsidiary Banglalink has been approved a 15-year license to continue operating in the country.
A statement from Orascom on Monday says Bangalink will pay US$263 million for spectrum and license renewal fees over a three-year period.
Orascom CEO Ahmed Abou Doma said the company was in negotiations with the Bangladeshi government for a year, resulting in an agreement that encourages continued investments in the country's telecommunication services.
The government says about 75 million people out of a nation of 160 million have cell phones.
Banglalink is one of Orascom's largest units by revenue. The company says it has over 20 million subscribers, representing a market share of 27 percent.
