Dialog CEO Hans Wijesuriya has recently gone on a tour to UAE to initiate this deal.

Economic experts are of the opinion that this would lead to a crisis in the local telecommunications industry as Dialog would be enjoying a monopoly.

Meanwhile, the Dubai based owners of Etisalat has called for bids to sell of its Sri Lankan subsidiary.

At the present, Dialog owns 40% of the local telecommunications market share with Etisalat holding 20%.

Meanwhile, secretive attempts are being made to merge Hutch and Mobitel and we will reveal details of this later.

The majority stakes of Suntel and Lanka Bell too, are owned by Dialog Axiata.