Green light for Malaysian stake in SLT

A Malaysian firm has been given the green light to conduct a due diligence of Sri Lanka Telecom (SLT) ahead of a possible sale of a stake held by Japan's NTT Communications Corporations a spokesman for SLT said.

NTT Communications Corporation of Japan owns a 35 percent stake in Sri Lanka Telecom, but control is still with the Sri Lanka government.

NTT Communications Corporation on March 19 informed SLT that they are currently discussing with Global Telecommunications Holdings N.V., which was a subsidiary of Malaysian conglomerate Usaha Tegas Sdn. Bhd, 'on a possible sell down of part of their holdings in SLT'.