COLOMBO, March 28 (Reuters) - Sri Lanka's top mobile phone operator Dialog Axiata DIAL.CM will roll out the country's first mobile 4G LTE network, sealing the deal with a 3.2 billion Sri Lanka rupees ($25.22 million) bid at auction, authorities said on Thursday.

The Telecommunications Regulatory Commission (TRC), which auctioned its mobile 4G LTE spectrum at a base price of 800 million rupees, said the subsidiary of Malaysia's Axiata

AXIA.KL had beaten two local rivals.

"We have auctioned 10Mh band in the 1,800 spectrum and the highest bidder was Dialog," said TRC Director General Anusha Palpita.

Dialog dominates the local telecoms market, accounting for 55 percent of revenue market share. ($1 = 126.8750 Sri Lanka rupees)

(Reporting by Ranga Sirilal; Editing by Shihar Aneez)

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Keywords: SRILANKA DIALOG/