Sri Lankan telco Lanka Bell might not be sold because of improved performance, reported local newspaper The Sunday Times.
Just a few weeks ago, local media reported that two mobile operators had submitted offers to buy the struggling company after its…
Sri Lankan telco Lanka Bell might not be sold because of improved performance, reported local newspaper The Sunday Times.
Just a few weeks ago, local media reported that two mobile operators had submitted offers to buy the struggling company after its owner, the Distilleries Company of Sri Lanka, put it on sale.
Lanka Bell had also hired KPMG to advise it on the deal. However, the report suggests a sale may now be irrelevant after the company managed to increase its revenues with the help of a cost-control programme, new directives on minimum floor prices on call charges and other regulatory changes.
Lanka Bell offers fixed-line and wireless services using CDMA 200 technology and WiMAX. It competes mainly with the country’s incumbent, Sri Lanka Telecom.
