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Tuesday, March 11, 2008 - 5.13 GMT     Back
SC allows sale of SLT shares
The Supreme Court yesterday (March 10) allowed NTT Communications Corporation in the Sri Lankan Telecom (SLT) to sell its 35.2% of shares to GTH Malaysia.

The Bench comprised Chief Justice Sarath N. Silva and Justice Nimal Gamini Amaratunga and Justice Jagath Balapatabendi observed that the public interests were suitably addressed by the terms.

President’s Counsel Romesh de Silva for the substituted-petitioner Managala Samaraweera submitted that his client would be agreeable to terminate the proceedings on the terms.

According to the terms, the Government would not be a party to the sale of the entirety of the NTT shares in SLT to the GTH Malaysia.

Since NTT is selling all its shares, the present share-holding agreement with the Government would be ceased.




 










 


 
  
 
     
 
   
   

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