Dialog Axiata and Bharti Airtel to Merge Sri Lankan Subsidiaries:

Dialog Axiata, Sri Lanka’s largest telecommunications provider and a subsidiary of Malaysian Axiata, has announced a binding term sheet with India’s Bharti Airtel for the merger of their Sri Lankan subsidiaries. The proposed transaction will grant Airtel a stake in Dialog, representing the fair value of Airtel Lanka, and will allow Airtel access to a large customer base in the island nation.

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Ongoing Discussions and Regulatory Approvals:

According to the disclosure made by Dialog to the Colombo Stock Exchange, discussions with relevant regulatory authorities are ongoing, and the proposed transaction is subject to signing definitive agreements and necessary closing conditions, including applicable regulatory and shareholder approvals.

Access to a Large Customer Base:

The merger is expected to provide Airtel with access to a large customer base in Sri Lanka and enhance its network coverage and customer service capabilities in the country. Dialog, on the other hand, is expected to benefit from Airtel’s global expertise in telecommunications and digital services.

Impact on the Telecommunications Market:

The proposed merger is expected to have a significant impact on the telecommunications market in Sri Lanka, with Dialog and Airtel bringing together their resources and capabilities to provide better services to their customers. The combined entity is also expected to be better positioned to compete with other telecommunications providers in the country.

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