The government confirmed plans to sell a further stake in Sri Lanka Telecom and is presently exploring various exit options.
ldblquote The government of Sri Lanka has by an official communique informed the board of directors of SLT that they were contemplating a further divestment of the shares held in SLT,” SLT CEO, Shuhei Anan said in a statement on Friday.rn
rnAnan said the lquote quantum to be divested and the process to be followed are still under consideration.rn
rnLBO in an earlier story on Sept 23. wrote that the government was mulling options to sell a substantial stake or the entire stake to a single investor. Premier Wickremasinghe is also keen to seek an overseas listing for SLT.rn
rnIndustry sources say that Indian telco giant VSNL, backed by the TATA Group, were among the suitors eyeing the large parcel. Though TATAs local representative office, has denied such a move.rn
rnLast year, the government sold off a 12.5 percent stake in SLT through an initial public offering (IPO). Pric