Dialog Axiata PLC, Axiata Group Berhad, and Bharti Airtel Limited Join Forces to Elevate Customer Experience and Enhance Shareholder Returns
Dialog Axiata PLC (“Dialog”), Axiata Group Berhad (“Axiata”), and Bharti Airtel Limited (“Bharti Airtel”) have signed a Definitive Agreement to merge their operations in Sri Lanka. This strategic move will see Dialog acquiring 100% of the issued shares in Airtel Lanka, with Bharti Airtel receiving ordinary voting shares amounting to 10.355% of Dialog’s total issued shares through a share swap. The transaction is subject to approval from Dialog’s shareholders and the fulfillment of specific conditions outlined in the Share Sale Agreement, including clearance from the Colombo Stock Exchange (CSE) and completion of other necessary legal, corporate, and regulatory procedures.
The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has already granted its approval for the proposed merger, highlighting its commitment to advancing the adoption of telecommunications services across the country.
This consolidation will enable the merged entity to capitalize on economies of scale, reduce infrastructure duplication, achieve synergies in technology and capital expenditure, and ultimately enhance high-speed broadband connectivity, voice and value-added services, as well as realize cost savings and operational efficiencies.
Vivek Sood, Group CEO and Managing Director of Axiata Group Berhad, expressed, “The merger between Dialog and Airtel Lanka is in line with Axiata’s strategy of market consolidation and resilience. It will create value for the shareholders of Dialog Axiata PLC and Axiata Group through achievable synergies. We hold Airtel Lanka and its employees in high regard and anticipate a fruitful collaboration as we integrate the two companies.”
Dr. Hans Wijayasuriya, CEO Telecommunications Business and Group Executive Director of Axiata, added, “This merger harnesses the strengths of two leading telco groups, promising growth and sustainability for Sri Lanka’s flagship Telecom Sector. We are excited about the new frontiers in Customer Experience and innovation that the merged company will bring to Sri Lankan Consumers and Enterprises.”
Gopal Vittal, MD & CEO of Bharti Airtel Limited, commented, “We are pleased to merge our Sri Lanka operations with Dialog. Given the scale and unique propositions they offer, we are confident that our customers will continue to enjoy cutting-edge services on a seamless network.”
Supun Weerasinghe, Director/Group Chief Executive of Dialog Axiata PLC, stated, “It is an honor to welcome the team at Airtel Lanka to the Dialog family. Together, we take a significant step forward in our commitment to delivering superior telecommunications services in Sri Lanka.”
Ashish Chandra, Chief Executive Officer of Bharti Airtel Lanka (Private) Limited, added, “The integration of Dialog and Airtel Lanka operations will unlock new opportunities for innovation and growth, benefiting consumers.”
