The Ministry of Finance, Economic Stabilization and National Policy has announced that two Chinese and Indian companies have qualified to acquire the majority shares of Sri Lanka Telecom. Sri Lanka Latest News
They are China’s Gotune International Investment Holdings and India’s Jio Platform.
Necessary measures are being taken to sell the 50.23% of shares owned by the government in Sri Lanka Telecom.
India’s Jio Platforms and China’s Gotune International Investment Holdings and UK’s Leica Group’s Pettigo Comercio International have offered to buy majority stakes in the telecom company.
However, the Special Project Committee of the Ministry of Finance and the Special Discussion Committee appointed by the Cabinet have selected Jio Platform Company and China’s Gotune International Investment Holdings Company as the pre-qualified competitive companies to purchase Telecom.
Jio Platforms is owned by India’s billionaire businessman Mukesh Ambani’s Reliance business.
Jio Platform Company’s assets are currently around 107 billion US dollars.
Mukesh Ambani is ranked 11th in the list of richest people in the world according to the Forbes business website.
The International Finance Corporation, affiliated with the World Bank, acts as the special advisory body for the sale of government-owned shares in Sri Lanka Telecom.