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Bharti Airtel Limited has become the second largest shareholder of Dialog Axiata PLC, Sri Lanka’s leading mobile phone service provider. This has been done according to an agreement between the two companies concerning Bharti Airtel Lanka.
Last April, the two companies entered into a share swap agreement to give 100% of the shares of Bharti Airtel Lanka, a wholly-owned subsidiary of India’s Bharti Airtel Limited, to Dialog Axiata in exchange for the shares of Dialog Axiata PLC.
It was decided in May last year to merge the business activities of these two main companies.
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