Sunshine Holdings ventures into telecom
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Sunshine Group MD, Govindasamy, exchanging the agreement with
CEO VSNL Lanka Ravi Sankar.
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Sunshine Holdings Limited expanded its business portfolio entering
into the telecommunication industry, with its recent acquisition of a 10
per cent stake in VSNL Lanka Ltd (VLL), a fully owned subsidiary of
Videsh Sanchar Nigam Limited (VSNL) India, the fourth largest long
distance telecommunication provider.
The investment in the telecommunications industry is yet another
pioneering initiative for Sunshine Holdings Limited, with plans underway
to acquire a further 5 per cent of VLL. This will add value to its
shareholders as well as to balance and further strengthen the growing
investment portfolio.
Group Managing Director of Sunshine Holdings Limited V. Govindasamy,
said, “We are in the business of creating value addition to our
shareholders. Long distance telecommunication business by far is one of
the best investment opportunities in Sri Lanka.
It is also the backbone of a developing nation. For Sri Lanka to move
forward, this industry is one of the most integral parts of its future
development,” he said.
The mission of VLL is to make its global and seamless architecture of
information superhighways be available in Sri Lanka to connect its
people and data networks efficiently for their requirements across the
globe. VLL strives to be the preferred partner to customers by providing
appropriate and optimum communication solutions.
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