Sri Lanka Telecom is going public at a time when telecom shares are taking a beating in global markets.
SLT Chairman Thilanga Sumathipala says that the SLT is look at a parcel between 12-20%%rn
rnldblquote Before December 31 we will be going for the local IPO, dblquote he says.rn
rnBut SLTs core profits are now slowly beginning to pick up. rn
rnAfter SLT defied a TRC order to share international in-payments with other operators, it lost billions in profits, as calls were smuggled into the country on the sly.rn
rnBut after striking a semi-official deal with the other operators it managed to stem the losses.rn
rnSLT says it is prepared to face the challenge coming from government plans to open the market later this year.rn
rnldblquote Liberalization will definitely have a short term impact on the SLT. We have our plans to deal with it in the long term,
dblquote he says.
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rnDuring the first half of this year SLT pre-tax profits rose by Rs. 500 mn to Rs. 2.3 bn.rn
rnThe board also ter