Lanka Bell sale in doubt due to improved performance

10 Jan 2011

Sri Lanka’s Sunday Times reports that loss-making fixed-wireless telco Lanka Bell, which was recently put up for sale, may rethink its decision because it is on the verge of achieving profitability, according to company sources. ‘From last year August onwards the company’s profits are good,’ a source told the Times’ Business section, adding that the firm’s fortunes have been helped by a cost control programme as well as regulatory directives on minimum floor prices on call charges and a new interconnection regime. As of February last year, Lanka Bell was seen as dragging down the profits of its parent group, Distilleries Company of Sri Lanka’s (DCSL). The source said that the ‘floor price on calls [a minimum outgoing rate of LKR2] granted all telcos a comfortable zone while encouraging them not to compete in an unhealthy way.’

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