Skyline
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Indian based Bharti Airtel is close to selling its operations in Sri Lanka to UAE-based telecom company Etisalat, a media report said.
According to the report, the deal is very close to be done following negotiations that have run for a quite a period of time.
However, Indian based Hindu Business Line says Airtel’s top management has declined to comment on the proposed deal.
Airtel Lanka which started operations in 2009 has been struggling to make headway in the Lankan market due to tough competition from key players and particularly from Dialog Axiata, which is the market leader.
Airtel has invested over $300 million to roll out services in the Island nation.
Etisalat is currently the third largest player with nearly five million subscribers in the Island nation.
Acquiring Airtel’s operations will help Etisalat move up the ranking.
Airtel to be sold to Etisalat – Report | NEWS360.lk
According to the report, the deal is very close to be done following negotiations that have run for a quite a period of time.
However, Indian based Hindu Business Line says Airtel’s top management has declined to comment on the proposed deal.
Airtel Lanka which started operations in 2009 has been struggling to make headway in the Lankan market due to tough competition from key players and particularly from Dialog Axiata, which is the market leader.
Airtel has invested over $300 million to roll out services in the Island nation.
Etisalat is currently the third largest player with nearly five million subscribers in the Island nation.
Acquiring Airtel’s operations will help Etisalat move up the ranking.
Airtel to be sold to Etisalat – Report | NEWS360.lk
