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Industry: Email Alert RSS FeedTata Group in discussion to acquire Sri Lankan Suntel
Telecommunications Mergers & Acquisitions, January, 2007 by Anonymous
The Tata Group is in discussions to acquire Sri Lankan telecom operator Suntel. Recently, VSNL Global, Tata's international arm, won ISP and ILD licenses in Sri Lanka. The company thereby intends to modify its business model in Sri Lanka from present inbound voice services to outbound voice and data traffic. VSNL already has a 51 percent stake in South Africa's Neotel and 26 percent stake in its compatriot InfraCo. Suntel's acquisition, if successful, will be the third overseas operation for VSNL.
Along with the Tatas, Bharti Airtel and Reliance Communications are also concentrating on Sri Lanka's telecom sector to win GSM licenses. However, they will have to compete with Malaysian Maxis Communications and Singapore Telecommunications to win the bid. Additionally,...
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