Emirates Telecommunications Corp (Etisalat) said on Saturday it has bought Tigo Sri Lanka, a unit of Millicom International Cellular, for 207 million dollars amid growth opportunities in the southeast Asian country.
Tigo Sri Lanka, the second-largest mobile phone operator in Sri Lanka, has a market share of 21 percent. By September 2009, it had 2.25 million subscribers, Etisalat said.
‘Both Sri Lanka as a country and Tigo Sri Lanka as a company provide opportunities for further growth,’ Etisalat said.
Standard Chartered Bank acted as financial advisor to Etisalat for the acquisition.
Tigo Sri Lanka, the second-largest mobile phone operator in Sri Lanka, has a market share of 21 percent. By September 2009, it had 2.25 million subscribers, Etisalat said.
‘Both Sri Lanka as a country and Tigo Sri Lanka as a company provide opportunities for further growth,’ Etisalat said.
Standard Chartered Bank acted as financial advisor to Etisalat for the acquisition.
