rnNTT, which owns a 35 percent stake in SLT, lost its management contract Monday. SLT also lost its monopoly on international voice calls on Monday.
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The government controls 61.5 percent of the telecom giant, while the balance was gifted to its employees.
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rnThe Japanese telecom giant paid US$ 225 mn for the 35 percent slice and management in SLT in 1997.
rnPolicy Planning Ministry Advisor R Paskaralingam told Lanka Business Online that the government is still keen to have NTT on board.
rnrnldblquote We are looking at putting together a fresh two-year contract. Not to extend the old one, which gave them [NTT] management rights and management fees, dblquote Paskeralingam said.
rnrnBeing the majority shareholder, the government informed NTT of its plans to let the contract lapse in February.
rnDespite serving notice, the government through the Public Enterprise Reform Com