Dialog acquires 100% in Airtel Lanka via share swap deal

Sri Lanka’s telecom market leader Dialog Axiata has acquired 100% in Bharti Airtel’s subsidiary in the island nation following the completion of an all-stock deal.

“…. Bharti Airtel, Dialog Axiata PLC and Axiata Group, Berhad have successfully completed on June 26, 2024, the share swap transaction of Bharti Airtel Lanka Pvt Ltd (Airtel Lanka) with Dialog. Upon completion of the transaction, Dialog holds 100% shareholding of Airtel Lanka and Bharti Airtel holds 10.355% shareholding of Dialog,” the Sunil Mittal-led telco said in filings to the BSE and NSE on Thursday.