UAE-based telecoms group Etisalat is reportedly looking to sell its Sri Lankan mobile operations.
Etisalat is in early-stage discussions with a number of international bidders, including India’s largest telco Bharti Airtel, according to Arabian…
UAE-based telecoms group Etisalat is reportedly looking to sell its Sri Lankan mobile operations.
Etisalat is in early-stage discussions with a number of international bidders, including India’s largest telco Bharti Airtel, according to Arabian Business citing a source close to the UAE company.
The state-owned operator started operating in Sri Lanka in 2010 after acquiring Milicom’s local subsidiary for around US$155m. It currently ranks third among the country’s five mobile operators, while Bharti is the smallest player.
In August last year, media reports had already suggested that Bharti was in advanced discussions with Etisalat to sell its Sri Lankan mobile operations.
Etisalat runs operations in 19 countries in the Middle East, Africa and Asia and has a market cap of approximately AED91bn (US$24.7bn).
Etisalat and Bharti Airtel could not immediately be reached for comment.
