August 31, Colombo (LNW): Dialog Axiata PLC (Dialog) has successfully completed the amalgamation with Bharti Airtel Lanka (Private) Limited (Airtel Lanka), marking a significant milestone in Sri Lanka’s telecommunications landscape.
The merger, effective as of August 30, 2024, concludes with Dialog emerging as the surviving entity, fully integrating Airtel Lanka’s operations into its financial and operational framework. This strategic consolidation effectively ends Airtel Lanka’s status as a separate corporate entity.
The merger is a testament to the combined strength of the Axiata Group Berhad and Bharti Airtel Limited, showcasing their commitment to enhancing Sri Lanka’s digital infrastructure. By merging their resources, expertise, and innovative capabilities,
Dialog is now better positioned to spearhead the country’s digital transformation. The move not only bolsters Dialog’s market position but also significantly expands its subscriber base, which has now surpassed 20 million, reaffirming its status as Sri Lanka’s leading telecommunications provider.
As the merger progresses, customers can expect improved services that extend beyond basic connectivity. Dialog aims to deliver substantial advancements in customer experience, innovation, and digital services, building on the strengths of both the Dialog and Airtel brands.
The continued presence of the Airtel brand within the new structure ensures that customers will continue to benefit from the value and trust associated with Airtel while gaining access to Dialog’s extensive offerings.
The completion of the share sale transaction between Dialog, Axiata, and Bharti Airtel was a key component of this merger. Dialog acquired 100 percent of Airtel Lanka’s issued shares through a share swap, resulting in Axiata holding a 73.75 percent stake in Dialog, while Bharti Airtel owns 10.355 percent, and the remaining 15.895 percent is held by the public.
This consolidation, first announced in May 2023, is now fully realized, with both brands continuing to serve their respective customer bases while beginning the integration of their networks.
Supun Weerasinghe, Chief Executive of Dialog Axiata PLC, expressed his enthusiasm for the successful merger, welcoming the Airtel team and its 3 million subscribers to the Dialog family. He emphasized that the merger positions
Dialog to drive significant growth in customer experience and innovation, contributing to the digital economy of Sri Lanka. Dialog’s focus will be on leveraging the combined strengths of both entities to set new benchmarks in connectivity and empower businesses and individuals to thrive in an increasingly digital world.
This merger underscores Dialog’s unwavering commitment to advancing Sri Lanka’s digital growth and economic development, setting a new standard in the telecommunications industry.
