Mobile Momentum

July 13, 2011 (LBO) – Sri Lanka Telecom is to invest five billion rupees in its mobile phone subsidiary for modernisation and expansion, a stock exchange filing said.

“This investment will be on a staggered basis and is expected to be made within a period of six months,” SLT said.

The investment will be for expansion of coverage and capacity of Mobitel and its network modernisation, it said.