Ekhanei.com winds up operation

Staff Correspondent | Published: 23:21, May 16,2017

 
 

Telenor, the parent company of the county’s mobile phone operator Grameenphone, along with two other entities have jointly decided to close operation of an online classifieds advertisement site, Ekhanei, in Bangladesh.
A number of employees of the organisation, however, said that they were yet to get any final decision on whether the organisation was going to rehabilitate them in any other organisation of the entities or only get severance package.
The Norwegian multinational telecommunications company, Telenor, has published a statement in this regard in its web site.
‘Based on the online classifieds market condition and not being able to develop the company into a sustainable and profitable business, the owners of Ekhanei—Telenor, Schibsted and Naspers­– have decided to close down the site Ekhanei in Bangladesh.
Telenor entered into online classifieds in 2013 through acquiring 50 per cent ownership in SnT and 33.33 per cent ownership in 701 Search, the statement said.
In 2015, further joint ventures were established with Naspers in 4 countries, including Bangladesh, where Telenor has had 25 per cent indirect ownership of the company through SnT, it said.
The operation closure of Ekhanei.com would be effective from today [May 17], the statement said.
Asked about the management’s decision regarding the employees working
at Ekhanei, officials of the organisation said that they were yet to get any confirmation on which process or steps the organisation was going to follow.
The management was still working to settle a policy regarding around 50-60 employees working at the organisation, they said.
The Telenor, however, in its statement said, ‘Telenor’s main task now, together with partners, is to take care of the affected employees, who will be offered severance packages according to company policies.’
Meanwhile, Telenor on Thursday last week announced that the entity has entered into an agreement with Schibsted regarding their joint ventures within online classifieds, whereby Telenor exits the Latin American joint venture (SnT) and acquires Schibsted’s stake in the joint ventures in Malaysia, Vietnam, and Myanmar (701 Search), Telenor said.
Following the announcement on Bangladesh, Telenor will own 100 per cent of 701 Search and its assets in Malaysia, Vietnam, Myanmar and headquarters in Singapore, the entity said.
‘We will continue our co-operation in the other joint ventures (Thailand and Indonesia) together with our partners (Schibsted, SPH and Naspers) as today,’ the statement added. 

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