Bharti Airtel is in advanced stages of discussion with Abu Dhabi-based Etisalat to sell its Sri Lankan business, says news reports.
Standard Chartered Bank is reportedly advising Bharti Airtel on the deal. In Sri Lanka, the operator (Bharti Airtel Sri Lanka), has a subscriber base of 1.7 million and is ranked fifth in the market. The operator?s business in the country has been valued between $110 and $130 million. Currently, with 4.5 million subscribers, Etisalat is Sri Lanka?s third-largest operator.
Bharti Airtel Sri Lanka started its operations in the country in 2009 and offers services such as 2G, 3G and 3.5 G across 25 districts in the country. The operator has a distribution network comprising of 40,500 retailers.
