Dialog Axiata Plc, Axiata Group Berhad and Bharti Airtel Ltd., have entered into a binding term sheet to combine operations of Bharti Airtel Lanka (Pvt.) Ltd., Airtel’s wholly-owned subsidiary with Dialog, a subsidiary of Axiata Group Berhad.
Accordingly, Airtel will get a stake in telecom operator Dialog under the proposed transaction that will represent the fair value of Airtel Lanka.
Dialog is Sri Lanka’s largest telecom provider. Experts state that the merger will help Airtel Lanka get access to a larger user base.