Mobitel’s acquisition of Hutch to conclude ‘shortly’

2 Feb 2016

Sri Lanka’s Telecommunication and Digital Infrastructure Minister Harin Fernando has revealed that the takeover of cellco Hutchison Telecommunications Lanka (Hutch) by Mobitel, the cellular division of state-controlled Sri Lanka Telecommunications (SLT), will be concluded ‘shortly’, Ceylon Today reports. The deal – which is estimated to value the unit at between USD115 million and USD135 million – was agreed upon in February 2014, though disagreements over the purchase price were reportedly the reason behind the delay in regulatory clearance. Further, Mr Fernando revealed that the Telecommunications Regulatory Commission (TRC) has rejected an offer for Hutch from UK-based MVNO Lycamobile. The official said: ‘Too many operators are bad for the industry, which is why TRC rejected the Lycamobile proposal.’

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