Government dismisses claim that SLT is being sold to Lycamobile

The government of Sri Lanka yesterday (22 November) moved swiftly to dismiss speculation in the press that it is holding, or has held, talks over the possible sale of Sri Lanka Telecom (SLT-Mobitel) to foreign investors, namely UK-based Lycamobile and the Adani Group. With trades unions threatening a series of walkouts across the islands against the decision, Justice Minister Wijeyadasa Rajapakshe said: ‘There were no discussions on the sale of State Owned Enterprises [SOEs] at this week’s Cabinet or anything concerning Sri Lanka Telecom.’ The 2023 Budget proposes to restructure and divest several SOEs which include Sri Lankan Airlines, Sri Lanka Telecom, Colombo Hilton, Waters Edge and Sri Lanka Insurance Corporation (SLIC).