Dialog Axiata PLC, Axiata Group Berhad, and Bharti Airtel Limited have signed an agreement to merge their operations in Sri Lanka.

Dialog will acquire Airtel Lanka, with Bharti Airtel receiving ordinary voting shares in Dialog as part of the deal.

The deal has been approved by the Telecommunications Regulatory Commission of Sri Lanka (TRCSL).
The statement issued in this regard is as follows :

Dialog Axiata PLC (“Dialog”), Axiata Group Berhad (“Axiata”) and Bharti Airtel Limited (“Bharti Airtel”) (collectively “the Parties”), signed a Definitive Agreement to combine their operations in Sri Lanka. Under this agreement, Dialog will acquire 100% of the issued shares in Airtel Lanka, in consideration of which Dialog will issue to Bharti Airtel, ordinary voting shares which will amount to 10.355% of the total issued shares of Dialog by way of a share swap. The transaction is subject to the approval of Dialog’s shareholders and is pending the completion of specific conditions outlined in the Share Sale Agreement, including clearance from the Colombo Stock Exchange (CSE) and completion of other applicable legal, corporate and regulatory compliance procedures.

The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has granted its approval for the proposed merger, underscoring its vision to advance the adoption of telecommunications services across Sri Lanka.

This consolidation will enable the merged entity to garner economies of scale and reduce duplication of infrastructure, achieve synergies in technology and capital expenditure leading to enhanced high speed broadband connectivity, voice and value added services, cost savings and operational efficiencies.

Vivek Sood, Group CEO and Managing Director of Axiata Group Berhad said, “The merger between Dialog and Airtel Lanka is aligned to Axiata’s strategy of market consolidation and resilience. The merger will create value for the shareholders of Dialog Axiata PLC and Axiata Group through achievable synergies. We have the utmost respect for Airtel Lanka and its employees and look forward to working together as we integrate the two companies.”

Commenting, Dr Hans Wijayasuriya, CEO Telecommunications Business and Group Executive Director of Axiata, added “This merger brings together the strengths of two leading telco groups and bodes well for the Growth and Sustainability of Sri Lanka’s flagship Telecom Sector. We look forward to the new frontiers in Customer Experience and innovation the company will deliver to Sri Lankan Consumers and Enterprises.”

Gopal Vittal, MD & CEO Bharti Airtel Limited Said, “We are happy to merge our Sri Lanka operations with Dialog. Given the scale and unique propositions they offer, we are certain that our customers will continue to enjoy cutting edge services on a seamless network.”

“It is a privilege to welcome the team at Airtel Lanka to the Dialog family and together we take a significant step forward in our commitment to delivering superior telecommunications services in Sri Lanka”, remarked Supun Weerasinghe, Director/Group Chief Executive of Dialog Axiata PLC.

“The integration of Dialog and Airtel Lanka operations will unlock new opportunities for innovation and growth, and this will lead to benefit consumers.” Ashish Chandra, Chief Executive Officer, Bharti Airtel Lanka (Private) Limited.

Highly placed officers at the US embassy in Colombo have opposed the impending visit of Iranian President Ebrahim Raisi, the ‘Aruna’ newspaper reports.

Highly placed sources have confirmed that officials from the US embassy who had visited the Ministry of Foreign Affairs (MFA) in Sri Lanka on April 16 and 17 had voiced their opposition, the newspaper adds.

It further notes that a team of Iranian security detail had arrived at Sri Lanka yesterday (17) ahead of President Raisi’s visit.

The Iranian President will arrive in Sri Lanka on April 24 on a one-day official visit to inaugurate the Tehran-assisted Uma Oya multipurpose development project worth $529 million.

The plane carrying the Iranian President is to land at Mattala Airport and the President is to be escorted under strict security to Uma Oya before he leaves the country on the same day, ‘Aruna’ reports.

This is the first time an Iranian President is visiting Sri Lanka since 2008.

The Uma Oya project was originally scheduled to be completed in 2015, but had been delayed several times due funding issues after the US imposed economic sanctions on Iran and the economic crisis in Sri Lanka.

The ‘Aruna’ newspaper further notes :

A special discussion on the security detail of the Iranian President was chaired by the Secretary of the Defence Ministry – General Kamal Gunaratne yesterday (17). Parallelly, a group of MoD officials had gone to the Mattala Airport.

According to diplomatic sources, the US FBI as well as Iraq’s Mossad are keeping a close eye on the Iranian President’s visit.

Speaking to ‘Aruna’, a senior officer has also stated that all intelligence units of Sri Lanka will collaborate to provide security to the visiting Iranian President.

(Source : Aruna)

The mobile phone of National Freedom Front leader – Wimal Weerawansa, had recently remained switched off, causing quite a stir among political circles.

As pointed out by cartoonists, it is no secret that Mr. Weerawansa’s mobile phone is almost never switched off.

This had sparked rumours, citing the reason as his close aide – Nimal Piyatissa attending a New Year festival attended by President Ranil Wickremesinghe as chief guest.

However, the actual reason is revealed to be Mr. Weerawansa working on his next book which is set to be published on his birthday which falls on May 15.

In addition, it is revealed that Mr. Piyatissa had also participated in the aforementioned event on the invitation of the organizers – the Nuwara Eliya Divisional Secretariat and ‘Youth Api Organization’.