Dialog and Vallibel in running for Suntel

7 Sep 2011

Two bidders have come forward to buy Sri Lankan fixed-wireless telecoms operator Suntel, an associated company of Swedish group TeliaSonera, although incumbent PSTN operator Sri Lanka Telecom (SLT) has withdrawn its interest after conducting due diligence late last month, reports Lanka Business Online. The two firms still in the running for the CDMA-based provider are Sri Lanka’s mobile market leader Dialog Axiata, which also runs its own fixed-wireless operation, and Vallibel One, a company controlled by Dhammika Perera. Dialog reportedly bid USD26.5 million for a controlling stake in Suntel (or USD31 million including a retirement plan consideration) while Vallibel’s bid reached USD28 million, according to the report.

Sri Lanka, Dialog Axiata, Sri Lanka Telecom (SLT), Suntel (now part of Dialog)