Lanka Bell up for sale

30 Nov 2010

Sri Lankan wireless in the local loop (WiLL) operator Lanka Bell has been put up for sale by its owner Milford Holdings, a subsidiary of Distilleries Company of Sri Lanka (DCSL). A public advertisement placed by financial advisors KPMG Ford, Rhodes, Thornton & Company calls for expressions of interest from telcos and other potential investors in a 99.99% stake in the CDMA2000 and WiMAX network operator. The invitation follows news that Sri Lankan business tycoon Harry Jayawardena is planning to divest interests such as Mutual Fund Manager, National Asset Management Ltd (NAMAL) and Lanka Bell. DCSL said that telecoms revenues fell to LKR2.43 billion (USD21.8 million) in the six months to September 2010, from LKR2.6 billion a year earlier, although the segment showed a gross profit of LKR92 million in the period compared to a LKR240 million loss a year earlier. Lanka Bell also operates Sri Lanka’s sole connection to the FLAG global undersea cable.

Sri Lanka, Lanka Bell,

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Browse

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