India's Tatas in talks to buy Sri Lankan telecom firm Suntel - report |
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Mon, 15 Jan 2007 05:08
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BOMBAY (XFN-ASIA) - The Tata group has begun talks to acquire Sri Lankan private telecom operator Suntel, the Economic Times reported, citing unnamed sources.The Tata group, through its international arm, VSNL Global, recently bagged international long distance (ILD) and internet service provider (ISP) licences in Sri Lanka, and is hoping to expand inorganically to become an integrated telecom player in the island nation, the report said.'VSNL currently provides international voice and data services in Sri Lanka and will soon expand its offerings to include internet services and enterprise solutions,' a senior company executive was quoted as saying. 'Sri Lanka is amongst our earliest international ventures we are looking at leveraging our opportunities there.'Suntel, with a subscriber base of about 250,000, is a joint venture between Swedish telecom giant Overseas Telecom, Metrocorp, Townsend of Hong Kong, National Development Bank, and International Finance Corp.
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