The move will make CK Hutchison the second biggest mobile operator in Sri Lanka

UAE based telco Etisalat has completed the sale of its Sri Lankan business unit, Etisalat Lanka, to CK Hutchison, according to reports in the press.

"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," CK Hutchison said in a statement.

Hutch’s newly enlarged Sri Lankan business unit will command a 27 per cent share of the country’s mobile telecommunications market, according to data compiled by Telegeography. Sri Lanka’s biggest mobile network operator remains Dialog, with 44 per cent of the market. Mobitel will be nudged down into third place with 21 per cent of the market, while Indian operator Bharti Airtel retains an 8 per cent interest in Sri Lanka.  

CK Hutchison’s Sri Lankan business unit currently offers 3G and 4G services across the island of Sri Lanka.