SLT stake sale postponed until November at least

17 Sep 2007

Following a Supreme Court decision in June 2007 barring any further action on the proposed purchase of Sri Lanka Telecom (SLT) shares by Malaysian cellco Maxis Communications, the case has been postponed until 22 November. It had originally been set to return to court this week, but all parties failed to submit legal objections and counter-objections, which must now be submitted by mid-October. The original court ruling prevented Nippon Telegraph and Telephone (NTT) Corporation from selling a 25.3% stake in SLT to Maxis (which would lower the Japanese firm’s interest to 9.9% and cancel its management contract), on the grounds of a lack of transparency. The Sri Lankan government owns 49.5% of SLT.

Subscribe



Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share