December 11, 2006 (LBO) – Sri Lanka Telecom, is spinning off its directory publication division as a wholly owned subsidiary, the island’s biggest fixed line operator said Monday. Japans Nippon Telegraph & Telephone Corp. or NTT controls 35.2 percent of SLT, the Sri Lankan government owns 49.5 percent and the public 15.3 percent.
SLT Publications (Pvt) Ltd, will have an authorised share capital of 50 million rupees, SLTs new Chief Executive, Shoji Takahashi said.
The company, which controls 85 percent of Sri Lanka’s fixed-line telecommunications market, last month said they were doing a due diligence study on cable television operator Grant Communications (Pvt) Ltd.
SLT has applied for a ‘non-voice’ license from the telecom regulator and the media ministry, which gives them permission to use cable and satellite technology for their expansion plans.
If approved, the license gives allows SLT to keep pace with global dynamics of convergence where communication and media technologies merge with telecommunication services.
The digital convergence, also known as quadruple play or four-play, gives SLT the chance of offering cable television, broadband, fixed-l