Dialog completes Suntel purchase

23 Mar 2012

Sri Lanka’s largest cellco by users, Dialog Axiata, has completed a deal worth LKR4.5 billion (USD34.5 million) to acquire 100% of local fixed-wireless telecoms operator Suntel, which will be integrated into its Dialog Broadband Networks (DBN) division. Malaysian-backed Dialog told the Colombo Bourse that it had concluded the acquisition of Suntel agreed in December 2011 with previous owners, Overseas Telecom (a part-owned subsidiary of Sweden’s TeliaSonera), National Development Bank, C-Tech Investments, Kelmarsh Investments, Townsend Ltd and International Finance Corporation. Suntel’s fixed telecoms network is based on a 382 base station network delivering fixed voice, broadband internet and data communication services via CDMA, WiMAX and other fixed-wireless access technologies. DBN also provides fixed telecoms services including CDMA-based telephony, WiMAX internet access and optical fibre-based transmission, and has invested LKR11.8 billion in the expansion of its fixed line and broadband infrastructure since 2006, with a particular recent focus on the development of its fibre-optic network nationwide, according to Dialog.

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