Sri Lanka’s Supreme Court has allowed Japan’s Nippon Telegraph and Telephone (NTT) Corporation to sell its stake in Sri Lanka Telecom after a long legal battle.

Sri Lanka’s Supreme Court has allowed Japan’s Nippon Telegraph and Telephone (NTT) Corporation to sell its stake in Sri Lanka Telecom after a long legal battle. NTT, which holds 35.19 per cent of Sri Lanka Telecom, is likely to sell its entire stake in Sri Lanka Telecom to Malaysia’s mobile network operator, Maxis Communications. The Sri Lankan government has a 49.5 per cent stake in the company with the rest being held by the public.