Bharti Airtel Ltd.

Bharti Airtel is in discussions with UAE-based telecom company Etisalat to sell its operations in Sri Lanka. The two companies are in negotiations for over five months now and have agreed on the broad contours of the deal.

Bharti Airtel had announced the launch of its Sri Lanka operations in 2009 but the company has not been able to make inroads in terms of market share, with just under two million users. Airtel has invested over $300 million to roll out services in Sri Lanka but continues to make losses.