Tags: Mahanagar Telephone Nigam Limited, Malaysia Telekom, MTNL, suntel, Tata, VSNL

Mahanagar Telephone Nigam Limited bids for Suntel

Indian telecom company MTNL has announced that they have now submitted a bid for acquiring the Sri Lankan fixed-line wireless operator Suntel.

This is perhaps the first such bid made by the government owned telecom operator in the international market.

Market sources claim that the bid is in the range of $100-120 million. It has taken into factor the potential legal case involving a customer of the company.

Some other parties said to be interested in acquiring Suntel are: Malaysia Telekom, VSNL (Tata controlled company in India) and a consortium led by John Keells Holdings.

Suntel also has presence in other markets including Nepal and the Maldives.