Sri Lankan operators have received government approval to invest more than $200 million between them to expand their networks and upgrade to 4G.
The nation’s Board of Investment of Sri Lanka has approved more than $1.3 billion worth of investment proposals as of last month, including proposals from Sri Lanka Telecom (SLT) and subsidiary Mobitel, EconomyNext reported.
SLT has been approved to invest $79 million to expand its network, which includes a national fiber backbone.
The operator’s wireless division Mobitel will meanwhile invest a further $80 million on its ongoing LTE upgrade.
Finally, Hutchison Telecommunications Lanka has been approved to invest $57 million in a network expansion as it proceeds with plans to merge with Etisalat Lanka.
The planned merger, announced last month, will see CK Hutchison take a controlling stake in the combined company.
The merger still requires competition and regulatory approvals. If the deal closes, it would see Sri Lanka’s mobile market reduced from five to four players, and put the combined company in a stronger position to compete against market leaders Dialog Axiata and Mobitel. – Telecom Asia