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One of Sri Lanka's leading telecommunications service providers, Dialogue Axiata, said on Tuesday that it will be merging with Bharti Airtel to become the country's largest telecom operator.
Airtel and British telecom giant Vodafone Plc agreed in February to buy 4.7 percent of telecom infrastructure company Indus Towers Ltd.
Moody's assumes Bharti's consolidated adjusted EBITDA to grow toward Rs 570 billion - Rs 585 billion by the end of the fiscal year 2022, which ends 31 March 2022 -- around 25 per cent increase over the fiscal year 2021's.
The test was conducted at the outskirts of Delhi/NCR, in Bhaipur Bramanan, using the 5G trial spectrum allotted to Airtel by the Department of Telecom.
Domestic equity market indices BSE Sensex and Nifty50 were trading low, reflecting the global markets. BSE Sensex was hovering around 58,050, while the Nifty 50 index gave up 17,350.