Sri Lanka Telecom, which is 35.2 per cent owned by Japan-based NTT Communications Corporation, is currently negotiating with Malaysia’s UT Group for a possible takeover of the NTT stake.

Sri Lanka Telecom, which is 35.2 per cent owned by Japan-based NTT Communications Corporation, is currently negotiating with Malaysia’s UT Group for a possible takeover of the NTT stake. The UT Group is also looking to acquire the stake. However, according to a Sri Lankan government committee studying the deal, SLT has the right of first refusal in case NTT decides to sell its stake. Meanwhile, SLT has received government approval to provide internet protocol television (IP-TV) services.