Bastobota without reality chara

Bangladesh's number one air time service provider Grameenphone is at the centre of a row between Norway's Telenor and ‘Dynamite prize’ winning academic Muhammad Yunus bhai. Telenor wants to float some Grameen shares on the Bangladeshi stock market, rejecting calls to sell part of its 62% stake to its partner, Mr Yunus. Yunus bhai wants to take control of the firm, saying this will ensure that the firm works as a social enterprise.

Grameen Phone recently changed its logo and the overall outlook from 'red-green' to more Telenor based blue. Gram gram bhab ar nai er modhe. More over, 'the women with a goat at her lap' image is no more. 

Grameenphone employs 5,000 staff while 12 million people use its phones. Its success however has been clouded by an increasingly bitter dispute between Telenor and Mr Yunus, whose efforts to help lift Bangladeshi families out of poverty earnt him the 2006 Nobel Peace Prize. Mr Yunus, whose Grameen Bank offers small loans known as "micro finance" for community projects, wants to increase its subsidiary Grameen Telecom's 38% stake in Grameenphone. The company has offered $427m to buy an additional 13% stake from Telenor, which would in effect give it control of the business.

Mr Yunus, the 'would-be President' of Bangladesh accused Telenor of reneging on a 1996 agreement which he says required it to give up control of the business in 2002. Speaking recently in Oslo, Mr Yunus said he was "disappointed" by Telenor's attitude, suggesting its efforts should be directed towards entrenching the social and cultural benefits that mobiles bring, not merely extending phone ownership. Younus Bhai feels the need of Bangladeshis very well and wants the best deal for the poor / semi poor / slylish poor people of Bangladesh.

But Telenor has insisted there was no legal agreement on the future ownership of the business. "The demand for the company's conversion into a social enterprise has no basis in reality," said Telenor's deputy chief executive Arve Johansen.

It has also argued that Grameenphone's strong growth would not have happened if Telenor had not invested significantly in its development between 2001 and 2003. By floating its shares on the stock market, Telenor believes more Bangladeshis will be able to have a stake in the firm's success. It says the move will also fund valuable new services for the poorest people, such as medical and financial information delivered via mobile phones.

Younus bhai to etodin grame'r manusher bhalo dekse, now he is fighting a corporate battle. Different approach is required. I am sure he has that. Mukh dekhe to ar uni ‘Dynamite prize’ pai nai.