## Bharti Airtel and Dialog to Merge Sri Lankan Operations
Bharti Airtel, the Indian telecom giant, has announced a merger agreement with Dialog, Sri Lanka's largest telecom provider. This agreement will see Dialog acquire 100% of the issued shares in Airtel Lanka, with Bharti Airtel receiving a 10.35% stake in Dialog in return.
This merger will consolidate the Sri Lankan telecom market, giving Airtel access to a larger user base and Dialog access to Airtel's technological expertise. The combined entity will be well-positioned to offer cutting-edge services and seamless network coverage to customers.
The merger is subject to shareholder approval and completion of specific conditions outlined in the agreement. It also requires clearance from the Colombo Stock Exchange and completion of other applicable compliance procedures.
Both Bharti Airtel and Dialog are optimistic about the future of the merged entity. Bharti Airtel's MD and CEO, Gopal Vittal, believes that customers will benefit from the combined network and services. Dialog's Group CEO and MD, Vivek Sood, sees the merger as a strategic move that will strengthen their position in the market.
The merger is expected to have a positive impact on the Sri Lankan telecom industry, bringing increased competition and innovation. It will also contribute to the country's economic development by creating new jobs and opportunities.
However, the economic crisis, political situation, and increased telecommunication levy in Sri Lanka may impact future 5G rollouts. Despite these challenges, both companies remain committed to providing their customers with the best possible services.