Dialog Axiata PLC, Axiata Group Berhad, and Bharti Airtel Limited have signed a definitive agreement to merge operations in Sri Lanka, enhancing service offerings and operational efficiencies.

Information on the Target

Dialog Axiata PLC, a leading telecommunications provider in Sri Lanka, is set to strengthen its market position through a definitive agreement to acquire Airtel Lanka, a subsidiary of Bharti Airtel Limited. This strategic move will involve Dialog obtaining 100% of the issued shares of Airtel Lanka, thereby enhancing its operational capabilities and service offerings in the region. In exchange, Bharti Airtel will receive ordinary voting shares amounting to 10.355% of Dialog's total issued shares, marking a significant collaboration in the telecommunications sector.

As the largest foreign direct investor in Sri Lanka, Dialog Axiata has a firm foothold in mobile telecommunications, digital pay television, and fixed-line services. With over 17 million subscribers, Dialog has established itself as a market leader, driven by a commitment to innovation and customer service excellence.

Industry Overview in Sri Lanka

The telecommunications landscape in Sri Lanka has evolved significantly over the past decade, characterized by rapid technological advancements and increasing mobile penetration. The sector has witnessed substantial investments in infrastructure, enabling