The transaction by Sri Lanka Telecom Mobitel, a fully owned subsidiary of Sri Lanka Telecom PLC to acquire Hutch, another leading telecom services provider in Sri Lank is now in progress, said Sri Lanka Telecom Chairman Kumarasinghe Sirisena, while responding to a query from Adad Derana Biz.
“This process began in 2012. From 2012 up to now the necessary activities have been going on regarding this issue. Recently, the Cabinet drew the attention of the Cabinet special committee to prepare the background for this transaction. Currently, this committee is carrying out the necessary actions,” said Sri Lanka Telecom Chairman Kumarasinghe Sirisena.
He also added, “Of course, it is essential to us. I responsibly says that unlike the beginning in 2012, now this issue will be settled very transparently in 2016, while ensuring that no other party is adversely affected in any way.”