The Government of Sri Lanka, facilitated by The Ministry of Finance, Economic Stabilization, and National Policies, has entered the evaluation phase for Request for Qualifications (RfQs) received for the divestiture of its shares in Sri Lanka Telecom PLC.
The Opening Committee, appointed by the Special Cabinet Appointed Negotiating Committee, carefully considered three RfQs from notable parties: Jio Platforms Ltd (Gujrat, India), Gortune International Investment Holding Ltd (c/o Capital Alliance Limited), and Pettigo Comercio International LDA (c/o NDB Investment Bank Ltd).
These RfQs will be scrutinized in accordance with the Special Guidelines on Divestiture of State-Owned Enterprises, a framework approved by the Cabinet of Ministers in July 2023. The rigorous evaluation process aims to ensure a fair and transparent selection of investors.
The deadline for the submission of proposals was 2 pm on Friday, 12th January 2024. The International Finance Corporation, serving as Transaction Advisors, plays a pivotal role in guiding the divestiture process. The outcome of this evaluation holds implications for the future ownership and strategic direction of Sri Lanka Telecom PLC, a key player in the nation's telecommunications sector. Stay tuned for further developments as the government moves forward in shaping the economic landscape.
