Tele Consolidation

Dec 18, 2013 (LBO) - Bharti Airtel is close to exiting Sri Lanka after investing 300 million US dollars to acquire two million users, a media report said.
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India's Hindu Business Line newspaper citing un-named sources said after give months of negotiations it was close to a sale to Etisalat, which had a five million user network in the island.
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The newspaper said. Manoj Kohli who is in-charge of Airtel's operations in Africa, Bangladesh and Sri Lanka, declined to comment.

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Airtel became the fifth operator in Sri Lanka in 2009 with well entrenched players when growth was already tapering off.

The entry led to a price war which hit margins of existing players leading to the regulator imposing tariff floors.

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