Dialog enters agreement to acquire 100 percent MTT network

Dialog Telekom Ltd ("Dialog") announced this week, entering a Share Purchase Agreement (SPA) for acquisition of 100% stake in MTT Network Pvt Ltd ("MTT"). The SPA was with Dialog , and shareholders of MTT, Sunpower Systems (Pvt) Ltd, Sipson Investments Ltd., and R Maharaja.

The SPA envisages purchase price of approximately Rs 1.86 Billion to be paid by Dialog to shareholders of MTT on completion of the transaction before the year ends.

The proposed transaction has received the approval of the Telecommunications Regulatory Commission. Following the completion of the transaction, MTT would continue to operate as a distinct and separate entity empowered by the licenses granted to it under the Telecommunications Act.

As a fully owned subsidiary of Dialog, the company will benefit from inputs from its parent (Dialog) in terms of ongoing investment and capacity building, technology vision and specialized technology know-how derived from the widespread domestic and international operations of Dialog and Telekom Malaysia Berhad, the majority shareholder in Dialog.

Dialog recognizes MTT to be a well-managed company with robust infrastructure capable of providing significant value addition to the telecommunications sector. MTT’s portfolio of service provisioning licenses encompassing voice and data communications and its incumbent service portfolio make the company a key player in the telecommunications sector at present.

MTT is a leading digital telecommunications Company. The company operates a digital microwave backbone and also plays a lead role in the data communications retail sector being a anchor service provider of Wide Area Networking (WAN) services to corporate clientele across a wide variety of sectors. The company deploys cutting edge technology including but not limited to the provision of IP-MPLS backbone services.

MTT’s high – speed broadband transmission backbone uses MPLS, ATM/Frame Relay/IP transport technologies and TDMA, CDMA and FDMA wireless last-mile access technologies to provide high speed data communication and internet access throughout the Country. The core technologies deployed by MTT support the establishment of Wide Area Networks (WAN), Metropolitan Area Networks (MAN) and Local Area Networks (LAN) for data, video and voice communications users across the network’s widespread footprint.

MTT is also licensed to provide Fixed Voice and Data and telecommunications services based on WLL technology and also possesses an External Gateway Operator (EGO) License and an Internet Service Provider (ISP) license.

MTT’s transmission backbone is built around a network of 26 heavy duty transmission towers strategically located to provide backbone access to most districts.

Dialog Telekom Limited is a large Coporate on the Colombo Stock Exchange in terms of market capitalisation. With a market capitalisation (as of 14/11/05) of approximately 142.5 Billion SLR (USD 1.425 Billion USD), the company has the distinction of having become the first to achieve a market capitalisation exceeding USD 1 Billion. Dialog Telekom Limited is a subsidiary of the Telekom Malaysia Group. In addition to its core mobile telephony business, the company provides international services, supporting an International Gateway infrastructure providing retail and wholesale international voice and data services under the brand name of Dialog Global. The company also provides Internet services through Dialog Internet - a fully-fledged Internet Service Provider (ISP). Dialog Telekom also operates Dialog SAT, a mobile satellite service.

Dialog Telekom is an ISO 9001 certified company. Its local coverage spans all nine provinces while international roaming is provided in 190+ countries. Dialog GSM, the largest and fastest growing cellular service in Sri Lanka, serves a subscriber base in excess of 2 Million local users.

The Group places emphasis on continuing customer service quality enhancements and innovations. Currently, with investments and operations in 12 countries around Asia and globally, TM is focused on sustainable growth in both the local and international markets..


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