Bharti Airtel and Dialog Axiata Full Share Swap for Airtel Lanka

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Bharti Airtel and Dialog Axiata Complete Share Swap for Airtel Lanka
Bharti Airtel, Dialog Axiata (Dialog), and Axiata Group (Axiata) have efficiently accomplished the share swap transaction of Bharti Airtel Lanka (Airtel Lanka) with Dialog. Upon completion of the transaction, Dialog holds 100% shareholding of Airtel Lanka, and Bharti Airtel holds 10.355 p.c shareholding of Dialog, Bharti Airtel introduced in a press release on Thursday.

Additionally Learn: Bharti Airtel, Dialog Axiata, and Axiata Group to Merge Operations in Sri Lanka

Merger Announcement and Definitive Settlement

Airtel and Dialog Axiata first introduced plans to mix operations in Sri Lanka in Might 2023. Later, in April 2024, Bharti Airtel introduced that the corporate had signed a definitive settlement with Dialog Axiata and Axiata Group to merge operations in Sri Lanka. Dialog Axiata, a subsidiary of Axiata Group, operates Sri Lanka’s Quad-Play Connectivity Service Supplier.

Transaction Completion

“In furtherance of our earlier intimations dated Might 2, 2023, and April 18, 2024, we want to inform that Bharti Airtel Restricted (Bharti Airtel), Dialog Axiata PLC (Dialog), and Axiata Group Berhad have efficiently accomplished the share swap transaction of Bharti Airtel Lanka (Non-public) Restricted (Airtel Lanka) with Dialog on June 26, 2024,” Bharti Airtel mentioned in an change submitting.

Additionally Learn: Sri Lankan Cellular Operators Commercially Launch Three Open Gateway Community APIs

Synergies

On the time of signing the definitive settlement, Airtel mentioned, “We’re glad to merge our Sri Lanka operations with Dialog. Given the dimensions and distinctive propositions they provide, we’re sure that our prospects will proceed to take pleasure in cutting-edge companies on a seamless community.”

The mixing of Dialog and Airtel Lanka operations is predicted to allow the merged entity to garner economies of scale, scale back duplication of infrastructure, and obtain synergies in know-how and capital expenditure.