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Dialog Telekom on Monday signed a deal worth Rs. 1.8 billion to buy over Sri Lanka’s largest private communication backbone operator, MTT Networks. Dialog Telekom on Monday signed a deal worth Rs. 1.8 billion to buy over Sri Lanka’s largest private communication backbone operator, MTT Networks. Dialog Telekom on Monday signed a deal worth Rs. 1.8 billion to buy over Sri Lanka’s largest private communication backbone operator, MTT Networks.

The mobile giant told shareholders that the Share Purchase Agreement (SAP) was signed between Dialog and Rajendram Maharaja, Sunpower Systems Private Limited and Sipson Investments Limited.

The three parties together hold the entire stake in MTT Networks, which claims coverage in 80 percent of the island.

Telecommunication Regulatory It is understood that the deal has got Telecommunication Regulatory Commission approval.

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Dialog Telekom officials said the acquired entity will me managed as an independent subsidiary, allowing it to serve its existing clientele which included other mobile operators and a national television station.

In addition, the acquisition will