It is reported that an issue has arisen in assessing the total value of Sri Lanka Telecom (SLT) due to the ownership of several lands not being properly transferred under the state owned institution.
The properties are said to include lands in several economically strategic locations of the SLT as well as in the areas of Welikada and Punchi Borella.
Meanwhile, sources say that Mr. Subaskaran Allirajah, owner of Lyca Mobile as well as the owner of 03 radio and television channels in Sri Lanka, is making great efforts to meet President Ranil Wickremesinghe, who is currently in the UK.
He is attempting to meet the President with the intention of entering into a final agreement to acquire the state owned shares in Sri Lanka Telecom PLC and Lanka Hospital PLC, which have been decided to be sold.
However, market sources say that Lyca Mobile does not have sufficient financial assets to acquire these stakes.
In order to buy shares in these two companies, they will have to sell their current assets in England or France, but are currently facing legal obstacles to do so due to allegations of tax evasion and money laundering.
Issue in transferring land ownership to SLT!
