The deal became a hot political issue amidst allegations of corruption.
Sri Lanka Telecom shares which gained ground in recent days with punters expecting a quick court decision, closed 50 cents lower at 35.25 rupees Thursday. The Supreme Court halted the sale of shares of the country's largest fixed access operator to a Malaysian firm in June, after a lawmaker filed suit against the deal.
Originally a government committee with treasury officials that is drawing up a new management agreement for Sri Lanka Telecom was expected to make written submissions through the attorney general, at a court hearing this month.
Japan's NTT which holds a 35.2 percent stake in Sri Lanka Telecom was negotiating to sell a 25.3 percent stake of the telco to the Usaha Tegas group of Malaysia controlled by bill