8/06/2009

Dialog and Airtel competing to buy Tigo

(August 06, 2009 - Lanka Polity) Telecom Malaysia that owns Sri Lanka's largest mobile communication network with 5.8 million subscribers and Bharathi Airtel that has invested $125 million and boasts about one million mobile connections within the launch of its operations in Sri Lanka are competing to buy the Tigo.


Tigo, owned by Luxembourg-based Millicom International, has a network with over two million subscribers. Tigo  is Sri Lanka's third largest mobile operator and it is worth $150-200 million.

India's Bharathi Airtel, Malaysia's Axiata Group, Russia's Vimpelcom and UAE's Etisalat are competing for Tigo. Axiata Group owns 85% of Dialog Telecom.

Last month, Millicom said it had received expressions of interest for its Asian assets and that it had appointed Goldman Sachs as advisor for the transaction. The company said it may either break up its Asian assets and sell them separately or may consider selling them together.

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