Sri Lanka Telecom is asking the government to sell the balance 49.5 percent it owns in the firm in small parcels through an international listing.
Last October, the government said it hopes to sell a further stake in the telco operator and is presently exploring various exit options.rn
rnSLT Chairman Thilanga Sumathipala says an international listing is a good exit route for the government.rn
rnA report being prepared by SLT with assistance from DFCC Bank, suggests that a 25 percent stake be sold in blocks of 10 percent, 10 percent and 5 percent.rn
rnThe telecom giant is also suggesting the government sell a block to a foreign Fund instead of another overseas telecom operator.rn
rnJapans Nippon Telegraph & Telephone Corp. (NTT), presently owns 35 percent of SLT. NTT is likely to oppose a move to bring in another telecom operator as an equity partner. Though there have been speculations that the government may offer a parcel to the TATA Group of India.rn
rnThe pricing, quantum and timing of th