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Dialog and Airtel to combine operations in Sri Lanka

2 May 2023 05:16 pm - 4     - {{hitsCtrl.values.hits}}


Dialog Axiata PLC and its Malaysian Parent Axiata Group Berhad and India’s Bharti Airtel Limited have entered into a binding term sheet to combine operations of Bharti Airtel Lanka, Airtel’s wholly-owned subsidiary, with Dialog Axiata.

According to a stock market filing by Dialog, the proposed transaction envisages Airtel being granted a stake in Dialog, representing the fair value of Airtel Lanka. 

Airtel would accordingly be issued new shares in Dialog Axiata upon completion of the transaction.

“Discussions with respect to the proposed transaction are ongoing between the Parties and also with the relevant regulatory authorities as per applicable laws and regulations,” Dialog Axiata Director/CEO Supun Weerasinghe said.

“The proposed transaction is subject to signing of definitive agreements and necessary closing conditions including applicable regulatory and shareholder­­ approvals,” he added.

  Comments - 4

  • Rip Winkle Tuesday, 02 May 2023 07:46 PM

    Probably not a move that's going to benefit the customers. Dialog is on it's last legs. Cheating customers seems to be it's motto these days.

    HoruDialog Tuesday, 02 May 2023 09:42 PM

    Dialog has hatred clients throughout the island as its services are degraded, but where Airtel performs having unmatched subscriber based network leading to hold a place as Number One service providers in Sri Lanka. Therefore, this combine effort reward Airtel a big loss and discredit to the netwok established with hard attempt.

    Sumal Wednesday, 03 May 2023 07:18 AM

    Is this the last attempt to save Dialog? It is difficult to operate organizations with staff having bloated salary.

    Nokian Wednesday, 03 May 2023 08:18 AM

    Dislogs market is shrinking due to bad practices. So this a probably a bail out staretgy !!!!

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