Regional rivals China, India eye Sri Lanka Telecom

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ECONOMYNEXT – Investors from China and India has expressed interest in buying Sri Lanka Telecom, market sources said, with the two countries already involved in the country’s ports sector.

Jio Platforms Ltd and a unit of Reliance industries of India and Gortune International Investment Holding Ltd have expressed interest in Sri Lanka Telecom.

Gortune International is an entity made up of private Chinese investors, market sources said.

India’s Airtel already has a mobile unit in Sri Lanka’s telecom sector.

India’s Adani group is building a container terminal in Colombo Port, where China already has terminal.

China also operates and part owns Hambantota Port.

India’s Adani group is building some renewable plant in the island. Concerns have been raised that some of the renewable plants under negotiations are not coming from competitive tenders.

Sri Lanka blocked a Chinese power sector investments in the North which came fro competitive tendering, reportedly under Indian pressure.

Lycamobile was the third bidder. (Colombo/Jan15/2023)

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Disclaimer: Regional rivals China, India eye Sri Lanka Telecom - Views expressed by writers in this section are their own and do not necessarily reflect point-of-view

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