Gujarat –based Indian company among three interested in taking over Sri Lanka Telecom

• Three companies responded to calls for Request for Qualifications   

By Kelum Bandara 

Three companies including Jio Platforms Ltd based in Gujrat, India have responded to calls for Request for Qualifications (RFQ) for investment in Sri Lanka Telecom under the government’s plan for restructuring state institutions.  Fortune International Investment Holding Ltd c/o Capital Alliance Limited and Pettigo Comercio International LDA c/o NDB Investment Bank Ltd are the other two prospective investors.  The government, acting through the Ministry of Finance, Economic Stabilization and National Policies called for RFQ from potential investors for the divestiture of its shares in Sri Lanka Telecom PLC , and the deadline for submission of proposals ended January 12, 2024.  

The RFQs will be evaluated as per the Special Guidelines on Divestiture of State-Owned Enterprises approved by the Cabinet of Ministers in July 2023.   

The International Finance Corporation acts as Transaction Advisors for the divestiture of shares held by GOSL in Sri Lanka Telecom PLC.