Ceylon FT: State-owned Sri Lanka Telecom (SLT), the country's largest telecommunication provider, has submitted two contradictory disclosures to the Colombo Stock Exchange on the ongoing Hutch deal.
SLT in its stock market filing yesterday (27) said that its fully owned subsidiary Mobitel, was negotiating with Hutchison Asia Telecom about a possible acquisition of its... Sri Lanka operation, Hutchison Telecommunication Lanka.
It said that the discussions were in the preliminary stages, and the final decision would depend on completion of confirmatory due diligence and both parties agreeing on terms and conditions of the transaction and thereafter, obtaining necessary regulatory approvals.
SLT assured to keep shareholders and the public informed after a definite decision on the transaction.
Last Friday (24) the company informed the Colombo Stock Exchange that Sri Lanka Telecom has 'not negotiated to purchase Hutch'.
It said that the discussions were in the preliminary stages, and the final decision would depend on completion of confirmatory due diligence and both parties agreeing on terms and conditions of the transaction and thereafter, obtaining necessary regulatory approvals.
SLT assured to keep shareholders and the public informed after a definite decision on the transaction.
Last Friday (24) the company informed the Colombo Stock Exchange that Sri Lanka Telecom has 'not negotiated to purchase Hutch'.
http://ceylontoday.lk/22-54185-news-detail-slt-denies-and-then-confirms-negotiations-to-acquire-hutch.html
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