SLT will not be affected by NTT share divestiture - Posts Secretary
COLOMBO: The 25 per cent share-divesting plan of NTT of Japan
would not affect Sri Lanka Telecom (SLT), which is just a deal between
two companies, Secretary to the Ministry of Posts and Telecommunication
W.M. Piyasena said.
He said there is no need to panic as the NTT would dispose only 25.3
per cent of their shares. They currently own 35.2 per cent of the total
share holding. Therefore it will not affect the Government holding of
Piyasena said that at present the Government of Sri Lanka owned 49
per cent of SLT and disposing 25 per cent of NTT Japan shareholding
would not affect the SLT. At present negotiations are going on with
Malaysian based telecom giant Maxxis Telecom.
According to Piyasena a special Committee has been appointed by
President Mahinda Rajapaksa to investigate companies that are planning
to purchase their shares.
In the mean time, SLT shares were also heavily traded during the
day’s trading at the Colombo Stock Exchange. A foreign
telecommunications company has completed due-diligence on SLT/NTT
shareholding, Business Development Manager Exchange, Bartleet Mallory
Stockbrokers Limited Angelo Ranasinghe said.