Global Telecom and VEON Ltd. announced that their wholly-owned subsidiary in Bangladesh, Banglalink, has received new frequencies that are expected to double its 3G network capacity, the companies said in a joint statement on Tuesday (pdf). Banglalink will pay a total of USD 308.6 mn for the spectrum and USD 35 mn to convert its existing spectrum holding into technology neutral spectrum. Banglalink will also acquire a 4G/LTE license in parallel in order to launch a high-speed data network, and is expected to pay USD 1.2 mn for it.

Tags: