Axiata and Airtel in talks to merge Sri Lankan operations
11 February 2016 |
Malaysia’s Axiata Group and India’s Bharti Airtel are said to be in talks to merge their operations in Sri Lanka.
The proposed deal will combine market leader Dialog Axiata’s 10.5 million customers and 41% market share with Airtel Lanka, which has a 9% share with 2.3 million mobile customers.
Both companies also announced their intention to merge their Bangladeshi operations two weeks ago to create the country’s second largest operator.
Under that agreement, Axiata will own a 68.3% controlling stake in the combined entity and Bharti Airtel 25%, while the remaining 6.7% will be held by Japan’s NTT DoCoMo.
47m | James Pearce
48m | Alan Burkitt-Gray
1h | James Pearce
1h | Alan Burkitt-Gray