Sri Lanka, April 19 -- Sri Lanka will see two leading telco groups come together with the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) giving the nod for Dialog Axiata and Bharti Airtel to merge.

Dialog Axiata PLC, Axiata Group Berhad, and Bharti Airtel Limited signed a Definitive Agreement to combine their operations in Sri Lanka.

"TRCSL has granted its approval for the proposed merger, underscoring its vision to advance the adoption of telecommunications services across Sri Lanka," the statement said.

The formal announcement made yesterday highlighted that under this agreement, Dialog will acquire 100 percent of the issued shares in Airtel Lanka, in consideration of which Dialog will issue to Bharti Airtel, ordinary ...