Sri Lanka Telecom is expected to come out with a price tag for Lanka Bell next week, after concluding a due diligence on the small fixed access operator.
The incumbent operator has been actively pursuing Lanka Bell and slipped an engagement ring for a due diligence study in October.
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rnSLT is asking full control or at least 70 percent of wireless local loop operator, as it braces itself to face increased competition in a liberalised market. rn
rn"We are now working on the purchase price, which will be presented to the SLT board on Dec. 9,
dblquote says Mohan Ratnayake, General Manager at SLTs Corporate Office.
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rnA merger will help SLT reduce the load off its urban copper based network by expanding over Lanka Bells wireless network rn
rnIndustry watchers say SLT has put a bid price of around Rs. 1.5 bn and will acquire Lanka Bell by issuing shares instead of buying the firm outright.
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rnStarting off in 1997, Lanka Bell has about 44,000 customers mostly in and around Colombo and commands u