Among the physical assets owned by Sri Lanka Telecom (SLT) to be sold, it is reported that the most valuable asset is the cable system consisting of five underground cables (submarine fiber optic cable system) that provides communication facilities from Sri Lanka to foreign countries.
Meanwhile, it was reported that both Malaysia and India are trying to buy the SLT.
However, it is said that if SLT were to sell the 49.5% shares owned by the government, Malaysia’s Global Telecom Holding (GTH), which owns 44.98% of the SLT, should first be invited.
According to the SLT Privatization Agreement, shares of GTH owned by Malaysian Tamil Buddhist Ananda Krishnan of Sri Lankan origin and the Sri Lankan Government are prohibited from being sold to third parties.
The government can sell its 49.5% stake to a third party only if the Malaysian company refuses to buy the shares.
Lalitha Hewagamage, a social media activist, in a post on his Facebook page said that Malaysia’s Dialog Axiata already owns more than 82.74% of Dialog’s shares. If GTH owns SLT, Malaysia will be the lead telecommunications owner in Sri Lanka.
He said that this is a beautiful acquisition compared to the South Indian, Portuguese, Dutch and English conquests.
He also said that the minions of President Ranil Wickremesinghe are trying to violate the agreement and transfer the shares owned by the government to a third buyer like Lycamobile or Reliance.
Mr. Hewagamage warned that if the agreement is violated, the country will have to pay compensation to GTH in an international court in the future.
He said the amount of compensation could be more than the amount obtained by selling the shares owned by the government.
Who is behind the idea?
Economic experts pointed out that developed countries with large economies have achieved their economic growth by moving to the world of e-commerce.
Accordingly, it is important for the government to have a stake in the country’s communication system to develop a country.
Meanwhile, security analysts pointed out that India is already working carefully to acquire the printing of national identity cards and its database, and its second step is to take over the national communication network.
Indian wolves vying for SLT
It has been confirmed that Reliance company owned by the Mittals family, as well as Jio company owned by Mukesh Ambani and Lycamobile owned by Subaskaran Aliraja are interested in buying SLT.
Reliance also owns Airtel in Sri Lanka.
Rohan is the most unsuccessful chairman…
Meanwhile, SLT trade unions said that current Chairman Rohan Fernando is the most unsuccessful chairman in SLT history.
Though the Chairman has told the media how SLT has become profitable, they said he is now silent about selling such a profitable company.
What Nanda Malini said about selling country’s resources: