UAE's Etisalat bids for Millicom Sri Lanka

Emirates Telecommunications Corp ETEL.AD (Etisalat) said on Monday it had submitted a binding offer on Sept. 4 to buy a 100 percent share in Millicom, Sri Lanka.

The statement on Abu Dhabi's bourse website did not give further details and the United Arab Emirates company, which operates in 18 countries, was not immediately available for comment.

The offer for Millicom's Sri Lankan operations follows Etisalat's failed bid for a stake in Morocco's Meditel and underlines the firm's determination to expand into emerging markets beyond the Gulf Arab region, an analyst said.