Dialog Axiata inks deal to acquire Airtel Lanka

The parties said the transaction is subject to the approval of Dialog’s shareholders.

KUALA LUMPUR: Axiata Group Bhd’s Sri Lankan unit Dialog Axiata PLC will acquire rival telecommunications company (telco) Airtel Lanka from Bharti Airtel Ltd in exchange for 10.355% of the total issued shares in Dialog.

According to a joint statement, the Telecommunications Regulatory Commission of Sri Lanka has granted its approval for the proposed merger between Dialog Axiata, the operator of Sri Lanka’s leading quad-play connectivity provider, and Airtel Lanka, which offers a 5G-ready 4G network across the country.