Dialog Axiata, Axiata Group, and Bharti Airtel have signed an agreement to combine their operations in Sri Lanka.
This move will see Dialog acquiring 100 percent stake in Airtel Lanka, with Bharti Airtel receiving 10.355 percent stake in Dialog through a share swap arrangement.
The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has already granted its approval for the proposed merger, emphasizing its commitment to advancing telecommunications services across the country.
The merged entity aims to capitalize on economies of scale, reduce infrastructure duplication, and achieve synergies in technology and capital expenditure. This consolidation is expected to result in improved high-speed broadband connectivity, voice services, value-added offerings, cost savings, and operational efficiencies.
Vivek Sood, Group CEO and Managing Director of Axiata Group, expressed alignment with Axiata’s strategy of market consolidation and resilience, highlighting the creation of value for shareholders through achievable synergies.
