Sri Lanka’s Dialog says Suntel deal is done
Sri Lanka’s Dialog Axiata PLC says, its subsidiary Dialog Broadband Network limited has concluded the acquisition of the shares of Suntel Limited.
During December 2011, Dialog Broadband Network limited, announced that it has decided to buy the wireless fixed line operator Suntel Limited, for a sum of US$ 40 million.
Accordingly, both firms also entered into a Share Purchase Agreement with Suntel Limited.
The earlier issued statement said, once the transaction is completed, both the DBN and Suntel Limited will be merged to provide advanced fixed line and broadband infrastructure to best in class standards.
Dialog Axiata is a listed firm in the Colombo Stock Exchange.
http://www.news360.lk/business-finance/dialog-says-suntel-deal-is-done-3344