Category: Technology

LONDON, October 1, 2009 (AFP) – Britain’s London Stock Exchange announced Thursday that it is in exclusive talks to buy pan-European electronic trading platform Turquoise.“London Stock Exchange Group plc announces that it has entered into exclusive discussions with Turquoise Trading Limited, which may lead to a transaction,” the LSE said in a brief statement. “A […]

Sept 23, 2009 (LBO) – A South Asian broadband communication conference and expo to be held in Sri Lanka in October with speakers from the global industry will focus on investing, and cost and revenue models in the fast growing region.It will also cover how Next Generation Technology fits into the region, home to large […]

NEW DELHI, Sept 18 (Asia Pulse) – Luxembourg-based Millicom has rejected Indian telecom PSU BSNL’s bid to acquire its operations in Sri Lanka, but India’s largest private mobile operator Bharti Airtel has entered the ring. Bharti Airtel, which is in talks with South African telecom firm MTN for a possible deal to create a US$23 […]

Sept 16, 2009 (LBO) – The London Stock Exchange (LSE) said it will acquire Sri Lanka’s MillenniumIT for 30 million US dollars (sterling 18 million), with the deal to be completed by mid-October.MillenniumIT, a technology firm which develops securities trading software will replace LSE’s existing trading platform and continue to service its exiting clients. MilleniumIT […]

Sept 15, 2009 (LBO) – Sri Lanka’s Millennium IT will be acquired by London Stock Exchange and its faster trading software would replace the British bourse’s existing platform, a media report said. The report said LSE could pay around 50 million sterling pounds (about 9.4 billion rupees) to buy the technology firm. Britain’s Financial Times […]

Sept 15, 2009 (LBO) – A travel advisory on Sri Lanka has been further relaxed with a reduced level of terrorist threat, in the island, the British High Commission in Colombo said. The UK relaxed its travel advisory to parts of the Eastern province after Tamil Tiger separatists were defeated in May, though British travelers […]

Sept 14, 2009 (LBO) – Emirates Telecommunications Corporation or Etisalat has confirmed it has bid for the celco Tigo, the Sri Lankan unit of Luxembourg-based telecom operator Millicom. The UAE telecom giant made the announcement in a filing with the Abu Dhabi Securities Exchange. Millicom International Cellular is selling its assets in Sri Lanka, Laos […]

Sept 10, 2009 (LBO) – A write-off of old equipment will help Sri Lanka’s Dialog Telekom, a unit of Malaysia’s Axiata, lower costs, support higher call volumes in a turnaround strategy after positing a record quarterly loss, an official said. A six billion rupee network equipment write-off drove up losses to a record 7.6 billion […]

Sept 07, 2009 (LBO) – Sri Lanka Telecom, the island’s dominant fixed line operator, said it was offering lower rates and discounts in new subscriber packages amid intensifying competition among phone companies.Existing SLT customer switching to new packages will be charged a transfer fee while those sticking to their ‘Home’ and ‘Business’ standard packages will […]

Sept 04, 2009 (LBO) – India’s state-run Bharat Sanchar Nigam Ltd (BSNL) is planning to buy Luxembourg-based Millicom International Cellular’s Sri Lanka operations, a media report said.The management committee of BSNL on Wednesday approved a proposal to bid for thee firm, India’s Hindustan Times newspaper said. Millicom International is selling its operations in Sri Lanka, […]

Aug 27, 2009 (LBO) – Standard and Poor’s has lifted the outlook of Sri Lanka Telecom’s (SLT) rating to ‘stable’ from negative, shortly after the host country’s outlook on its ‘B’ sovereign rating was lifted. “The stable outlook on SLT reflects the country risk factors,” S&P said. “Any downward movement of the sovereign ratings could […]

Aug 26, 2009 (LBO) – The acquisition of a big stake in Sri Lanka Telecom, the island’s dominant fixed-line operator, by Malaysia’s Global Telecommunications Holdings NV has been nominated for a global mergers and acquisition award. The nomination has been made under the Media, Entertainment or Telecom Deal of the Year category of the awards […]