M&A

M&A

Airtel to merge Sri Lankan unit with Dialog Axiata to form island country's largest telco

Press Release   Mint  

Bharti Airtel Lanka is to merge its operations with Dialog Axiata, promoted by Malaysia-based Axiata Group Berhad, which is Sri Lanka's largest mobile network operator with 17.4 million subscribers, (57% market share). Airtel Lanka has over 5 million customers and operates in 25 administrative districts. The deal will be executed through a share swap via which Delhi-based, publicly listed Bharti Airtel will get a stake in Dialog.