The telco was offered for sale by public advertisement through KPMG financial advisory, which said 99.
99 percent of the stock was on the block.
The advertisement said Lanka Bell used CDMA 2000 technology also had WiMax date services. It had 509 base station and 65 offices around the country.
Lanka Bell was also connected the FLAG global undersea cable.
The latest results of Distilleries showed that telecom revenues had fallen to 2.43 billion rupees in the 6-months to September 2010, from 2.
6 billion rupees a year earlier.
The sector showed a gross profit of 92 million rupees, reversing a 240 million loss a year earlier.
Fixed access wireless is also offered by Sri Lanka Telecom and Dialog Axiata, which also have mobile units.