Foreign Call

The investment bank picked for the job will initiate the book building exercise for the funds rising, while the telco giant obtains State approval for its expansion plans that include using wireless technologies to connect rural areas.rn

rnSLT say it has not finalised its borrowing options, but could settle for a bond issue or a loan depending on the interest rates. rn

rnThe funds will also help SLT retire part of its current debt balance. rn

rnSLTs expansion will also help the new Alliance governments plans to list part of its 49 per cent remaining stake in the dominant telco in the Singapore Exchange. rn

rnFinance Minister Sarath Amunugama this week said the government would continue with most of the Rs. 13 billion privatisation programme put in place by the previous regime. rn

rnHowever, SLTs plans to expand through a marriage with Lanka Bell endash the smaller of the two wireless local loop operators are still on the shelf.rn

SLT, which is looking at taking full control or at least a 70 p