Overseas Telecom AB divests Suntel Limited
Overseas Telecom, the majority shareholder of Suntel Limited, has divested its share in Suntel Limited to Dialog Broadband Networks (Private) Limited. The transaction, which include all shares in the company, is expected to close in March 2012.
Suntel Limited is the second largest wireless fixed line operator in Sri Lanka and has approximately 400,000 customers. Overseas Telecom is a Swedish telecom company, with TeliaSonera AB as the main shareholder. Dialog Broadband Networks (Private) Limited is a wholly owned subsidiary of Dialog Axiata PLC, Sri Lanka's largest telecommunications service provider.
Overseas Telecom was advised by Mannheimer Swartling in the transaction. The firm’s team was led by Biörn Riese, primarily assisted by Patrik Lilieblad, Henrik Dock and Jonas Lagerroos.