The proposed deal will combine market leader Dialog Axiata’s 10.5 million customers and 41% market share with Airtel Lanka, which has a 9% share with 2.3 million mobile customers.
Both companies also announced their intention to merge their Bangladeshi operations two weeks ago to create the country’s second largest operator.
Under that agreement, Axiata will own a 68.3% controlling stake in the combined entity and Bharti Airtel 25%, while the remaining 6.7% will be held by Japan’s NTT DoCoMo.
