Dialog Axiata Plc along with Axiata Group Berhad (Dialog’s parent company) and Bharti Airtel Ltd have entered into a ‘binding term sheet’ to combine operations of Airtel with Dialog.
The proposed transaction envisages Airtel being granted a stake in Dialog, representing the fair value of Airtel Lanka. Airtel would accordingly be issued new shares in Dialog upon completion of the transaction, an official media release from the parties said.
Discussions with respect to the proposed transaction are ongoing between the parties and also with the relevant regulatory authorities as per applicable laws and regulations. The proposed transaction is subject to signing of definitive agreements and necessary closing conditions including applicable regulatory and shareholder approvals.
“The parties will issue further announcements in due course should there be any material developments,” the statement said without further details.
Customs have detected 228 mobile phones and tabs valued at over Rs 30 million left behind in the duty free shopping complex at the Banaranaike International Airport today, Customs officials said.
Read this week’s Sunday Times for your interesting articles including the ’’5th Column’’.
Leave Comments