Govt. receives 3 RfQs to divestiture Sri Lanka Telecom shares

Saturday, 13 January 2024 01:20 - - {{hitsCtrl.values.hits}}

Three submissions in total were received for the Request for Qualification (RfQ) on the divestment of shares in Sri Lanka Telecom PLC, the Finance Ministry disclosed yesterday.

Accordingly, Jio Platforms Ltd. in Gujrat, India, Gortune International Investment Holding Ltd., c/o Capital Alliance Ltd. and Pettigo Comercio International LDA., c/o NDB Investment Bank Ltd. submitted their offers.

On 10 November 2023, the Government, acting through the Ministry of Finance, Economic Stabilisation, and National Policies, released an RfQ via international and local media. The RfQ sought interested parties for the divestiture of the Government’s shares in Sri Lanka Telecom PLC. The submission deadline for proposals concluded yesterday.

The evaluation of the RfQs will adhere to the Special Guidelines on Divestiture of State-Owned Enterprises, a framework approved by the Cabinet of Ministers in July 2023.

The International Finance Corporation (IFC) acts as the Transaction Advisor for the divestiture of shares held by the Government in Sri Lanka Telecom PLC.