Technology

India’s Jio and China’s Gortune shortlisted for SLT divestiture

The efforts towards the divestiture of Sri Lanka Telecom PLC (SLT) are firming up, with the government announcing yesterday that it has shortlisted the bidders for the Request for Proposal stage.The State-Owned Restructuring Unit yesterday said that India’s Jio Platforms Ltd and China’s Gortune International Investment Holding Ltd have been pre-qualified. The approval was given by the Cabinet-Appointed Special Project Committee and Special Cabinet-Appointed Negotiating Committee.The government, acting through the Finance, Economic Stabilisation and National Policies Ministry, called for Requests for Qualification (RfQs) from potential investors for the divestiture of its shares in SLT. The deadline for submission of proposals was January 12, 2014.

A total of three Expressions of Interest were received. The third, which did not qualify, was from Pettigo Comercio International LDA. The RFQs received were evaluated based on the Special Guidelines on Divestiture of State-Owned Enterprises, approved by the Cabinet of Ministers in July 2023. The International Finance Corporation acts as the transaction advisor for the divestiture of shares held by the government of Sri Lanka in SLT

( Source : Daily Mirror)