By Ishara Gamage
Ceylon Finance Today: Sri Lanka's mobile telecoms giant Dialog seeks Telecommunications Regulatory Commission (TRC) approval to buy the Colombo operations of Bharti Airtel for US$ 100 million, sources close to negotiations told Ceylon FT yesterday.
"The deal will be finalized soon after TRC approval is obtained," they said.
Responding to our previous report relating to this deal (see Ceylon FT of 2 December, 2015), Dialog Axiata said that no final deal has been made to acquire a rival, following a media report that is was in talks to buy a unit of Bharti Airtel in the island.
"Should the firm reach material certainty with respect to an inorganic merger or acquisition, the company would make due disclosures of the same to the relevant authorities," the firm said in stock exchange filing.
Bharati Airtel Lanka Ltd and Dialog Axiata PLC officials, when contacted declined to comment.
"'The transaction will be a mix of cash and an equity stake in Dialog at 'current' market prices, where the total value would be US$ 100 million', they said", Ceylon FT on its 2 December, 2015 had further said.
Sources also said that Dialog Axiata is planning to transfer all its towers business to a separate company.
www.ceylontoday.lk
Ceylon Finance Today: Sri Lanka's mobile telecoms giant Dialog seeks Telecommunications Regulatory Commission (TRC) approval to buy the Colombo operations of Bharti Airtel for US$ 100 million, sources close to negotiations told Ceylon FT yesterday.
"The deal will be finalized soon after TRC approval is obtained," they said.
Responding to our previous report relating to this deal (see Ceylon FT of 2 December, 2015), Dialog Axiata said that no final deal has been made to acquire a rival, following a media report that is was in talks to buy a unit of Bharti Airtel in the island.
"Should the firm reach material certainty with respect to an inorganic merger or acquisition, the company would make due disclosures of the same to the relevant authorities," the firm said in stock exchange filing.
Bharati Airtel Lanka Ltd and Dialog Axiata PLC officials, when contacted declined to comment.
"'The transaction will be a mix of cash and an equity stake in Dialog at 'current' market prices, where the total value would be US$ 100 million', they said", Ceylon FT on its 2 December, 2015 had further said.
Sources also said that Dialog Axiata is planning to transfer all its towers business to a separate company.
www.ceylontoday.lk
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