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Dialog redials Suntel

14 December 2011 10:14 am - 7     - {{hitsCtrl.values.hits}}

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Sri Lanka’s celco leader Dialog Axiata is believed to have finalized a deal to buy over 100 percent of fixed line-CDMA operator Suntel Private Limited; an informed source reveled to Daily Mirror Online.

Despite the failed attempts made by the company to acquire Suntel in the past, owing to price related and regulatory issues, Dialog is believed to have been able to resolve the issues this time.

“More than price issues, this time there was a delay on the part of the regulator giving approval to the deal. But everything has now been sorted out and the due approval has been granted and Dialog is expected to make an official statement shortly,” the source said.

Since the end of the CDMA boom several years back, Suntel had been up for sale. Over seven suitors both local and foreign vied to acquire the company that has a decent corporate clientele.

Among the interested parties, there were names like Mahanagar Telephone Nigam Ltd (MTNL), Tata Communications (TCL), John Keells Holdings, Malaysia Telecom, Sri Lanka Telecom and Vallibel One PLC.

Suntel is owned by a consortium led by Sweden’s Overseas Telecom AB and includes Metrocorp Ltd., Telecom Venture Group Ltd., International Finance Corporation, NDB Bank, C. Tech Investments Ltd., and Kelmarsh Investments Ltd.

Suntel began operations in late 1996 in Sri Lanka and soon after emerged as the third largest with an estimated customer base of half a million by 2008. However thereafter its customers, migrated to other operators due to the mobile phase that started in the Sri Lanka’s telecommunication scene, and the firm’s current base is estimated at 350,000. (IS)

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  Comments - 7

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.

 

  • Yahiya-Doha Wednesday, 14 December 2011 01:59 PM

    Very good move. Dialog TV need to reduce the monthly rental to look poor nation.

    AHA Wednesday, 14 December 2011 10:37 AM

    IF true, Good move for everybody

    Man B Wednesday, 14 December 2011 11:17 AM

    the best deal

    Jerry Wednesday, 14 December 2011 11:59 AM

    What will happen to the management committee of Suntel? Do they secure their job as a part of the deal?

    sujeewa Wednesday, 14 December 2011 11:59 AM

    this is not good news for sri lanka telecommunication industry. Dialog will be the market leader. its not good for the country.

    evil Thursday, 15 December 2011 12:26 AM

    can say sorry to SLT.

    Hugo Wednesday, 14 December 2011 12:45 PM

    we had Suntel since 1996, that time it was realy good. 2008 when i came back to Sri lanka it became a pain. Soon I deactivated Suntel. It was going down since then.
    Im so happy that Dialog takes over!


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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.

 


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