saraprobe
April 21st, 2007, 04:59 AM
Sri Lanka's Dialog Telekom to raise US$150 million
Dialog Telekom, the Sri Lankan unit of Telekom Malaysia, said Friday it was raising US$150 million to expand its cellular network.
Dialog, Sri Lanka's biggest cellular phone operator, will raise the money on the local stock exchange by issuing rights and preference shares to ordinary shareholders, chief executive Hans Wijayasuriya said.
"The funds are part of our three-year plan to spend about 300 to 400 million dollars to expand our operations here," Wijayasuriya told AFP.
With over three million subscribers, Dialog controls 60 per cent of Sri Lanka's cellular market.
Dialog also offers international voice and data services, Internet and satellite television.
It plans to offer fixed line telephone services in the coming months.
Sri Lanka's booming telecom sector is expected to bring in some of the island's biggest investments this year.
http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/271480/1/.html
Dialog Telekom, the Sri Lankan unit of Telekom Malaysia, said Friday it was raising US$150 million to expand its cellular network.
Dialog, Sri Lanka's biggest cellular phone operator, will raise the money on the local stock exchange by issuing rights and preference shares to ordinary shareholders, chief executive Hans Wijayasuriya said.
"The funds are part of our three-year plan to spend about 300 to 400 million dollars to expand our operations here," Wijayasuriya told AFP.
With over three million subscribers, Dialog controls 60 per cent of Sri Lanka's cellular market.
Dialog also offers international voice and data services, Internet and satellite television.
It plans to offer fixed line telephone services in the coming months.
Sri Lanka's booming telecom sector is expected to bring in some of the island's biggest investments this year.
http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/271480/1/.html