Ding dong: two suitors eying up Lanka Bell, says source

6 Dec 2010

Two unnamed mobile operators have submitted expressions of interest in buying fixed-wireless telco Lanka Bell, via the CDMA and WiMAX network operator’s financial advisor KPMG, an industry source told the local Business Times, adding that both potential bidders currently do not have CDMA as part of their portfolios – thus discounting domestic players Sri Lanka Telecom, Dialog Axiata or Suntel. The Distilleries Company of Sri Lanka (DCSL) group controls nearly 100% of Lanka Bell, but last week put the subsidiary up for sale through a newspaper advertisement.

Sri Lanka, Lanka Bell