Mobitel acquires 87.6% of E-Channelling as voluntary offer closes

Mobitel (Private) Limited, the mobile arm of Sri Lanka Telecom PLC, has acquired 87.59 percent of the issued shares of E-Channelling PLC, an online doctor channelling platform operator, through a voluntary offer with only the firm’s controlling shareholder accepting the offer.

Mobitel announced its voluntary offer on E-Channelling to fully acquire the firm in a Rs.732 million deal, paying Rs.6 per share. 

The controlling shareholder Senior Marketing System Asia (Pte) Limited, which held 107 million shares representing 87.59 percent of E-Channelling said, it would accept the offer at the time of the offer announcement in September.

The voluntary offer closed yesterday. NDB Bank functioned as mangers to the offer. 
Mobitel’s competitor in the mobile telephony market, Dialog Axiata PLC, operates the other online doctor channelling platform in the country in partnership with the Softlogic group’s Asiri Hospitals.