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NewsMalaysia's Axiata unit buys Suntel for US$35mil
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Malaysia's Axiata unit buys Suntel for US$35mil
by hlk Fri 16 Dec 2011, 13:53
COLOMBO: Sri Lanka's top mobile operator Dialog Axiata
on Thursday said it had entered into a $34.9 million share purchase
agreement to acquire 100 percent of wireless fixed-line operator Suntel,
to boost its broadband and fixed-line services.
Dialog, a unit of Malaysia's Axiata, and Suntel, a subsidiary of Swedish telecom operator Overseas Telecom AB, in a statement said they expect the merger to be completed in the next few months.
The merger news boosted Dialog shares 1.28 percent.
Dialog
is the seventh-largest firm in the Colombo Stock Exchange with a market
capitalisation of 8.14 billion Sri Lanka rupees ($71.46 million).
($1 = 113.9150 Sri Lanka rupees)
on Thursday said it had entered into a $34.9 million share purchase
agreement to acquire 100 percent of wireless fixed-line operator Suntel,
to boost its broadband and fixed-line services.
Dialog, a unit of Malaysia's Axiata, and Suntel, a subsidiary of Swedish telecom operator Overseas Telecom AB, in a statement said they expect the merger to be completed in the next few months.
The merger news boosted Dialog shares 1.28 percent.
Dialog
is the seventh-largest firm in the Colombo Stock Exchange with a market
capitalisation of 8.14 billion Sri Lanka rupees ($71.46 million).
($1 = 113.9150 Sri Lanka rupees)
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