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Dialog dials Suntel

14 December 2011 03:26 pm - 4     - {{hitsCtrl.values.hits}}

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Sri Lanka’s Dialog Axiata’s subsidiary, Dialog Broadband Private Limited (DBN) today entered into a share purchase agreement (SPA) to purchase 100 per cent of Suntel Limited, the second largest wireless fixed line operator in Sri Lanka, from its current shareholders.

A share purchase agreement signed between DBN and the shareholders of Suntel will be completed at an Enterprise Value in the range of US $ 33.9 million to US $ 34.9 million, subject to an outcome of confirmatory business valuation and due diligence during the period leading up to the completion of the transaction, a disclosure filed by Dialog Axiata said.
 
It also noted that this acquisition will be completed in a few months’ time and the two entities—DBN and Suntel will be merged to provide the customers of the respective entities with advanced fixed line and broadband services. It further noted that the merger of the two entities will be the single largest consolidation initiative within Sri Lanka’s telecommunications sector.

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  Comments - 4

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 
  • shameer Wednesday, 14 December 2011 04:15 PM

    this creates monopoly. then, dialog will start to charge higher prices from consumers, as they did in the early stages of mobile introduction to the country. the telecom regulatory commission should not have approved this.

    Keekaru Thursday, 15 December 2011 07:14 AM

    If I’m not mistaken, Dialog was not the first to introduce mobile & Dialog introduced the cheapest in rates in mobile history, even today. Celltell was the pioneer in Sri Lanka & and the rates were too high…

    Aristotle Wednesday, 14 December 2011 07:00 PM

    Dialog dials Suntel -- Sorry the number not in service anymore!

    Rajeev Thursday, 15 December 2011 02:53 AM

    Bravo!!!


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