India’s telecommunications giant, Reliance Jio has expressed interest in expanding operations into Sri Lanka. Jio Platforms is among the three entities that have expressed interest in acquiring the Sri Lankan government’s stake in Sri Lanka Telecom, the island nation’s state-owned telecommunication company.
Colombo had invited proposals from potential investors in November last year, as it decided to divest its stake in the national telecom services provider.
After the deadline for the submission of proposals ended on 12th of January, Sri Lanka’s State Owned Enterprises restructuring unit issued a press release, mentioning Jio Platforms, along with China based Gortune International Investment Holding and Portugal based Pettigo Comercio International as the three potential bidders.
The Requests for Qualification will be evaluated as per the Special Guidelines on Divestiture of State-Owned Enterprises.
The International Finance Corporation acts as Transaction Advisors for the divestiture of shares held by the Sri Lankan Government in Sri Lanka Telecom.