Dialog Axiata Plc (“Dialog”), Axiata Group Berhad (“Axiata”) and Bharti Airtel Limited (“Airtel”) (collectively “the Parties”), have entered into a binding term sheet to combine operations of Bharti Airtel Lanka (Private) Limited, Airtel’s wholly-owned subsidiary with Dialog, a subsidiary of Axiata Group Berhad. 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.
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.
An exhibition badminton match between Sri Lanka’s youngest Olympian shuttler, Viren Nettasinghe, and Anders Antonsen, the World No.2 ranked in Men’s Singles, will take place at the Mercantile Badminton Association (MBA) Courts at Malalasekara Mawatha, Colombo 7 on Friday (13).
A SriLankan airlines flight has been grounded in an airport in Indonesia due to a technical defect leaving 93 passengers stranded, an official said.
A protest is underway at the Liberty Circle following Israeli forces attacking an aid ship to Gaza containing prominent activists carrying food to try and end the blockade of resources by the Israeli Government.
The actions of a resident in Egoda Uyana, Moratuwa helped to avoid a possible railway accident involving an office train on the southern coastal line today, the Railway Department said.
A garbage tractor driver from Kurunegala has gone viral on social media after adorning his municipal vehicle with teddy bears, fabric flowers, and colourful decorations, many of which were salvaged from the very trash he collects or purchased himself.
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