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The Sri Lanka Telecom(SLT) has cancelled the proposed merger with Lanka Bell. According to an SLT director, this decision has been made due to regulatory problems.

The merger deal amounting to US$ 14 million was due to be finalised this year.

SLT will also appoint a new Chairman at the next board meeting scheduled for March 2, according to reliable sources. SLT has been functioning for over three weeks without a chairman since the current incumbent head Thilanga Sumathipala is in remand custody.

According to reliable sources, K.C. Logeswaran is tipped to be the next chairman. A product of St John's College, Jaffna he is an SLAS officer. He was also a former secretary to the Ministry of Posts and Telecommunication and Media.

At present, he functions as the Advisor to the minister of Finance.(RW)

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