Cell Talks

Aug 23, 2013 (LBO) – India’s Bharti Airtel is in talks with UAE-based Etisalat to sell its Sri Lanka unit, which is too small to make money in the highly competitive market, a media report said. India’s Economic Times said citing two unnamed sources said Standard Chartered was advising Airtel on the sale and the firm was valued at between 110 to 130 million US dollars.

The newspaper said Bharti Airtel and Standard Chartered declined comment and Etisalat could not be reached.

The report said Airtel had invested 300 million US dollars and hard acquired 1.7 million subscribers but had not made profits as the fifth operator.

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