NTT Docomo has shrunk its shareholding, from 30% to 8%, in Robi Axiata – the third largest operator by subscriber in Bangladesh. The Japanese heavyweight has unleashed its fury at the regulatory malfunctions and questioned the government’s credibility. Press release of Robi Axiata on NTT’s exit is the most caustic one in Bangladesh’s telecoms history. The Docomo decision comes in the face of what it cites as an unfriendly regulatory environment and business uncertainties. The telecommunications industry is at a critical juncture in Bangladesh with many issues pending between the regulators and the government agencies, notably related to VAT rebate on 2G and 3G license and 2G licensing rules, which have not been addressed even in the recent circulars of the National Board of Revenue (NBR).