e-Channelling acquired by Mobitel for Rs.732.7 mln

Mobitel, Sri Lanka's second largest mobile phone operator, on Monday announced a take-over of e-Channelling - the pioneer mobile doctors' channelling application, at a purchase price of Rs 732.7 million. The announcement to the Colombo Stock Exchange said that the company would also make an offer to buy all the remaining shares from the public in due course, as per exchange rules.

The public float (the number of shares held outside the company) was 12.41 per cent with the balance 87.59 per cent being the stake Mobitel will hold until the offer to buy the rest is made. A pioneer in in healthcare services, e-Chanelling created new ground by offering a service where doctors could be channelled via the mobile phone but in the past few months Dialog, the country's top mobile phone service provider, introduced its own service expanding the competition. - ENDS -