March 05 (LBO) – The possible exit of Japan’s NTT from Sri Lanka Telecom continues to garner investor interest with market expectations of a possible buyout by Malaysian mobile operator, Maxis. But SLT has declined to comment specifically on the deal, saying NTT was satisfied with SLT’s performance.
“I think amongst those projects the companies the NTT company’s investments in Asia pacific region the Sri Lanka Telecom’s performance is quite good, probably number one among those project companies,” SLT CEO Shoji Takahashi, an NTT appointee told the television program Lanka Business Report.
“And Sri Lanka Telecom pays a dividend to NNT Communications, and that is satisfactory. Recently the NTT Communications has started to collaborate with Sri Lanka Telecom to expand the global business. This is good for Sri Lanka Telecom and we can take this opportunity to expand our global business.”
But market expectations had been increasing that a deal with Maxis is imminent, driving SLT’s price up above 40 rupees over the last two weeks.
Government of Sri Lanka is the largest shareholder of SLT controlling a 49 percent stake in the company.
NTT of Japan, which brought in to