Dialog Axiata, a leading telecommunication service provider in Sri Lanka, has announced its plans to merge operations with Airtel, another major player in the country’s telecom industry. The move is expected to create a strong, unified network that will provide customers with enhanced services and better coverage across Sri Lanka.
The merger, which is subject to regulatory approvals, will result in Dialog Axiata acquiring the assets of Airtel Lanka, including its customers and spectrum. The transaction will be completed through a share swap, with Airtel Lanka’s shareholders receiving an approximate 10.5% stake in Dialog Axiata.
Dialog Axiata CEO Supun Weerasinghe stated that the merger would enable the company to further strengthen its market position in Sri Lanka and enhance its ability to serve customers with innovative, high-quality services. He also expressed his enthusiasm for the opportunity to bring Airtel Lanka’s customers onto the Dialog Axiata network.
Airtel Lanka CEO/MD Jinesh Hegde emphasized that the merger would benefit Airtel Lanka’s customers, as they would gain access to Dialog Axiata’s advanced services and capabilities. He added that the merger was a strategic decision that would enable the two companies to create a larger and more competitive telecom network in Sri Lanka.
Overall, the merger between Dialog Axiata and Airtel is a significant development in Sri Lanka’s telecom industry, and is expected to have a positive impact on both companies and their customers.
Source : Biz