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Etisalat bids telecom firm in Sri Lanka

Emirates Telecommunications Corp. (Etisalat) announced it put in a bid to buy assets belonging…

September 15, 2009 12:01 by



Emirates Telecommunications Corp. (Etisalat) announced it put in a bid to buy assets belonging to Millicom International Cellular SA in Sri Lanka, reported Bloomberg on Monday.

Etisalat made the bid on September 4, but declared it in a statement to the Abu Dhabi bourse on Monday. It did not disclose the value of the bid.

Based in Sweden and controlled by Kinnevik Investment AB, Millicom is shedding assets in Asia, including Sri Lanka, in order to limit its “competitive and political risks,” reported Bloomberg.



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