NewsHong Kong -based CK Hutchison and UAE-basedEtisalat have agreed to merge their mobile businesses in Sri Lanka, operating under the names Hutch Lanka and Etisalat Lanka. Upon completion of the transaction, Hutchison will have the majority and controlling stake in the combined entity. The completion of the transaction is subject to a number of conditions precedent, including securing the necessary competition and regulatory approvals in Sri Lanka. Dialog, controlled by Malaysia-based Axiata, is market leader, with a reported 12.8 million customers at the end of 2017, compared to a total of over 28 million mobile users in Sri Lanka, according to the regulator. Other players are local operator Mobitel with 6.8 million customers at the end of 2017 and Airtel with 2.2 million customers, other sources were quoted as saying in foreign media reports.

Source: Sunday Times April 26, 2018 14:26 UTC