Calling Bell

Sri Lanka Telecoms efforts to take over Lanka Bell got delayed by over a week, but the incumbent operators team negotiating the deal say they have secured commitments to sell for up to 75 per cent of the wireless operatoration. rnrn
SLT was to finalise a price for the stake in Lanka Bell at a Board meeting on Tuesday, but the gathering was pushed back to December 17 to allow all Directors to be present. rn

rnSLTs Head of Investor Relations, Mohan Ratnayake told Lanka Business Online on Tuesday the delay would buy the team more time to negotiate the price with Lanka Bells shareholders.rn

rnSLT is yet to confirm how it plans to pay for the acquisition, which analysts estimate is worth around Rs. 1.5 bn while other reports suggest that SLT would look to pay within US$ 300 per line for, Lanka Bells 44,000 lines. rn

rnldblquote We may even issue shares instead of buying the company outright, but nothing is confirmed, its still very much in the air,
dblquote says Ratnayake. rn

rnRatnayake meanwhile