MTNL is highest bidder for Lanka Sunel

MTNL is highest bidder for Lanka Sunel
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First Published: Thu, Jun 07 2007. 09 56 AM IST
Updated: Thu, Jun 07 2007. 09 56 AM IST
Reuters
Mumbai: State-run Mahanagar Telephone Nigam Ltd. (MTNL) has bid $160-$180 mn (Rs 640 - 720 crore) to lead the race for Sri Lanka’s Suntel.
Though MTNL’s chairman refused to comment on this stage, official sources have through a formal announcement on the deal said that it should be through sometime by mid-June.
Other companies in the race for the Sri Lankan firm include Telekom Malaysia and Sri Lanka’s John Keells Holdings.
Suntel is owned jointly by Sweden’s Overseas Telecom AB, Metrocorp (Pvt) Ltd., Hong Kong’s Townsend Ltd., the National Development Bank of Sri Lanka , and the International Finance Corp.
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First Published: Thu, Jun 07 2007. 09 56 AM IST
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