November 27 2006 (LBO) – Dialog Telekom, the island’s biggest mobile phone operator, Monday announced plans to acquire satellite pay television operator Communiqu Broadband Networks (Pvt) Ltd and CBN Sat (Pvt) Ltd for 523.8 million rupees. Dialog Telekom, dominates the industry with over 3 million subscribers, followed by Mobitel Lanka, Celltel Lanka Ltd, Hutchinson. The telecom regulator is in the process of selecting a fifth operator. A unit of Telekom Malaysia, Dialog said the acquisition is subject to the telco completing a share sale and purchase sale agreement with both parties.
The acquisition of 100 percent of both firms’ share capital, will be carried out through Dialog’s subsidiary, Asset Media (Pvt) Ltd.
Dialog bought Asset Media for 325 million rupees in October, and indicated plans to use its radio and television frequency license, to rollout a host of infotainment services ranging from television to mobile phone services.
A greenfield operation, Asset Media also comes with its own broadcasting studio, a free-to-air and pay television license.
“The acquisition of CBN/CBNSAT is expected to provide Asset Media with cutting edge DTH (direct to home) Satellite Pay TV infrastructure and strong portfolio of Conte