Dialog Axiata and Bharti Airtel Lanka to Merge, Airtel to Gain Stake in Dialog

Dialog Axiata Plc, a subsidiary of the Axiata Group Berhad, Bharti Airtel Limited, and Bharti Airtel Lanka (Private) Limited has announced plans to combine operations. In a binding term sheet agreement, Airtel Lanka will be granted a stake in Dialog, representing the fair value of the subsidiary. As part of the transaction, Airtel will be issued new shares in Dialog upon completion of the deal.

The discussions regarding the proposed transaction are ongoing between the parties involved and with the relevant regulatory authorities in compliance with applicable laws and regulations. The announcement was made in a corporate disclosure filed with the Colombo Stock Exchange. The proposed transaction is subject to the signing of definitive agreements and necessary closing conditions, including applicable regulatory and shareholder approvals.

In the future, the parties involved will issue further announcements should there be any material developments. The proposed transaction is expected to create synergies between the parties, enhancing the customer experience and strengthening their position in the market. The transaction would be a significant step for the companies involved, and the market will be closely monitoring the developments.