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* CK Hutchison and Etisalat Group complete the combination of their operations in Sri Lanka
Wed, Dec 5, 2018, 11:55 am SL Time, ColomboPage News Desk, Sri Lanka.

Dec 05, Colombo: Emirates Telecommunications Group Company PJSC has completed the sale of its 100 percent shareholding in Etisalat Lanka (Private) Limited to Hutchison Telecommunications Lanka (Private) Limited on November 30.

Upon completion of the sale, CK Hutchison Holdings Limited group will have a majority and controlling stake of 85 percent while Etisalat Group will have 15 percent ownership of Hutch Lanka.

CK Hutchison Group and Etisalat Group entered into a definitive agreement to merge their mobile telecommunications businesses in Sri Lanka in April this year.

The full statement:

Further to our announcement on 26 April 2018, please be informed that on 30 November 2018, Emirates Telecommunications Group Company PJSC ("Etisalat Group") has completed the sale of its 100% shareholding in Etisalat Lanka (Private) Limited ("ESL") to Hutchison Telecommunications Lanka (Private) Limited ("Hutch Lanka"). Upon completion of the sale, CK Hutchison Holdings Limited group will have a majority and controlling stake of 85% whilst Etisalat Group will have 15% ownership of Hutch Lanka.

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