Govt. shortlists Jio and Chinese fund for SLT; Lyca out

The Government has shortlisted India’s Jio and China’s Gortune International Invest Holdings for the Request for Proposal (RfP) stage of the sale of 50.3% stake in Sri Lanka Telecom.

The move follows the pre-qualification of the two parties by the Cabinet Appointed Special Project Committee and Special Cabinet Appointed Negotiating Committee.  The other bidder who responded to Request For Qualification (RfQ) Portugal based Pettigo Comercio International LDA allegedly linked to Lyca Group of UK wasn’t recommended.

The International Finance Corporation (IFC) acts as the Transaction Advisor for the sale.