When asked if Airtel has identified any particular company, he said, "There is no opportunity at the moment... There got to be some consolidation in markets that are fragmented".
Bharti Airtel, which has operations in 20 countries across Asia and Africa, received in 2007 permits to provide telecom services in Sri Lanka. It has invested of over USD 300 million on Lankan operations and set up over 1,500 base stations to support its 2G network.
Mittal said Airtel Lanka has been growing in the country and expects to take the company to next level.
Globally, Airtel offers 2G, 3G and 4G mobile services and had over 246 million customers on its network as on February, 2012.
"Consolidation is important in this country. Five operators, 20 million customers ... Is too many operators. At the end of the day some consolidation,just as in the case of India, will have to happen," Mittal told reporters here.
"We have 1.5 million customers of the 20 million population. We came in as number 5. Now we are fourth (in terms of subscribers). Idea is to reach to the next level," he said.