Bharti Airtel which is eying overseas opportunity for a while now has applied for a regulatory permission to acquire stake in Bangladesh’s Warid Telecom. Reports estimate the deal to be worth $ 900 million.

Reports say Zia Ahmed, Chairman of the Bangladesh Telecommunications Regulatory Commission has disclosed this proposed move by Bharti.

“We are always looking for opportunities,” said Bharti Deputy CEO, Akhil Gupta.

Bharti gained 2.7 percent to close at 325.50 rupees in Mumbai trading, the third-best performer today on the Bombay Stock Exchange’s Sensitive Index. The stock was the second- biggest contributor to the benchmark index’s 0.2 percent advance.

Warid has 2.79 million subscribers in Bangladesh which in total has 51.4 million subscribers.

Earlier in the year, Bharti made an unsuccessful attempt to merge its operations with South Africa’s MTN. The deal fell off due to its complex structure.