Deadline for RfQ for Sri Lanka Telecom extended till 12 January
Daily FT: The Government has extended the deadline for submission of Request for Qualification (RfQ) for the purchase of controlling stake in Sri Lanka Telecom (SLT) until 12 January 2024.
The previous deadline was 18 December 2023.
The SOE Restructuring Unit (SRU) has ruled out any further extension.
The last date for receiving clarification requests from prospective bidders is 13 December.
SRU hopes the issuance of Request for Proposal; opening of data room and qualified bidders’ due diligence to take place in the first quarter of 2024.
In November, the Finance Ministry issued a notice on RfQ from interested parties to acquire a 50.23% stake in SLT.
OSL take:
Sri Lanka’s ongoing programmed to restructure a group of selected state-owned enterprises (SOEs) has presented a host of new business/investment opportunities to foreign businesses/investors. SLT, which is earmarked for divestiture, has shown growth and profits during the past years amidst challenging economic conditions. The overall growth and expansion of Sri Lanka’s economy has further expanded the demand for ICT and digital infrastructure development. This has resulted in the growth in business/investment opportunities in the ICT and digital infrastructure development sectors in Sri Lanka. The country’s target of becoming an emerging business destination in the South Asian region would further expand the opportunities in the ICT and digital infrastructure development sectors in Sri Lanka. Given the growth and business potential in Sri Lanka’s ICT and digital infrastructure development sectors, foreign businesses/investors could confidently explore the expanding opportunities in these sectors since they guarantee quick returns on investment (ROI).
| Article Code : | VBS/AT/20231218/Z_2 |