MTNL bids for Lanka`s Suntel
The bid has been submitted in the range of $100-120 million and has factored in a legal case of four billion Sri Lankan rupees (LKR) involving a customer, sources said. Other contenders in the fray for Suntel are Malaysia Telekom, a consortium led by John Keells Holdings and the Tata-controlled VSNL. If MTNL acquires the company it will have a local partner, the sources added.
The result of the bidding is expected in the next fortnight. Suntel, a privately-owned telecom operator, has three lakh subscribers and has NLD and ILD licenses. The acquisition would give MTNL leverage on data services, fixed line and a host of corporate and SME customers.
