Ambani’s Jio Platforms and China’s Gotune Intl prequalified to bid for SLT: Aliraja out

The Ministry of Finance on Wednesday announced that two Chinese and Indian companies have qualified to acquire the majority shares of Sri Lanka Telecom.

Earlier India’s Jio Platforms and China’s Gotune International Investment Holdings and UK’s Leica Group’s Pettigo Comercio International (Aliraja) had submitted bids to buy majority stakes in the telecom company.

Of the three, the pre-qualified bidders are China’s Gotune International Investment Holdings and India’s Jio Platform.

Necessary measures are being taken to divest 50.23 per cent of shares owned by the government in Sri Lanka Telecom to a private company, the ministry said.

The Government acting through the Ministry of Finance, had recently called for Request for Qualification (RFQs) from potential investors for the divestiture of its shares in Sri Lanka Telecom PLC.

The deadline for submission of proposals ended at 2 pm on January 12, 2024.

Accordingly, the Cabinet Appointed Special Project Committee (SPCC) and the Special Cabinet Appointed Negotiating Committee (SpCANC) have pre-qualified India’s Jio Platforms, a subsidiary of Reliance Industries Ltd. owned by Indian billionaire Mukesh Ambani, and China’s Gortune International Investment Holdings as bidders for the RFP stage.

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