Sri Lanka Dialog says Airtel acquisition not final

ECONOMYNEXT – Sri Lanka’s Dialog Axiata said no final deal has been made to acquire a rival, following a media report that is was in talks to purchase a unit of Bharti Airtel in the island.

Dialog said it had not entered into an agreement for a merger or an acquisition, but did not deny that it was in talks.

"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 an oblique stock exchange filing.

Sri Lanka’s Ceylon Today newspaper said the Dialog was in talks to buy the Airtel unit a deal which could be worth as much as 100 million US dollars.

Citing an unnamed source, the report said it could be settled in cash and Dialog stock.

 

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