Sri Lanka’s largest telco, Dialog Axiata, has acquired local pay-TV operator Sky Television and Radio Network for LKR800m (US$6.3m), allowing it to expand its fixed LTE service.
Dialog bought Sky, which owns spectrum in the 2.3GHz band, via its Dialog…
Sri Lanka’s largest telco, Dialog Axiata, has acquired local pay-TV operator Sky Television and Radio Network for LKR800m (US$6.3m), allowing it to expand its fixed LTE service.
Dialog bought Sky, which owns spectrum in the 2.3GHz band, via its Dialog Broadband Networks (DBN) subsidiary. DBN itself already has 15MHz worth of spectrum in that same band.
“The acquisition of a further spectrum resource in the same band would enable DBN to expand its fixed LTE service, resulting in the expansion of its high-speed broadband delivery capacity via LTE technology,” Dialog said in a statement.
The company has already received regulatory approval for the acquisition of Sky.
According to its website, DBN launched Sri Lanka’s first 4G-LTE service in December 2012 in capital city Colombo. It has now rolled out 4G to several other cities.
In November last year, Dialog Axiata’s board of directors approved the establishment of a 15-year Islamic medium-term note programme of up to Rs1.2bn (US$394m) in Malaysia.
Dialog Axiata, which is a subsidiary of Malaysia’s Axiata Group, said it planned to use the proceeds to refinance existing debt and sukuk, fund investments and operational and capital expenditure, as well as for working capital purposes.
