Business

Hutch completes Etisalat deal and grows market share to 17.6% in Sri Lanka

Emirates Telecommunications Group (Etisalat Group) has completed the sale of its 100 percent shareholding in Etisalat Lanka to Hutchison Telecommunications Lanka (Hutch Lanka). Upon completion of the sale, CK Hutchison group will have a majority and controlling stake of 85%, whilst Etisalat Group will have 15 percent ownership of Hutch Lanka.

This deal has solidified Hutch’s position at 3rd place in terms of share in the Sri Lankan mobile telecommunications market, with its lead over fourth placed Airtel now over 8%. However it remains far behind second placed Mobitel which has a 28.1% share. Dialog is comfortably placed at the top of the table with a 44.5% market share.