SLT divests SLT Campus to focus on core telco operations

Based on a stock exchange filing by Sri Lanka Telecom PLC, a publicly traded company, it is learnt that the organisation has divested SLT Campus (SLTC), its education business recently.

Officials familiar with transaction noted that SLT have recorded a profit, as the Campus with a book value of Rs.390 million was divested for Rs.410 million.

Reliable sources concur that SLT believes in strengthening its core business of telecommunication. Importantly, SLT has only divested the education segment of SLTC while retaining assets such as its property and buildings. These facilities are to be leased to the new consortium of investors.

The writer learns from reliable sources that SLT-MOBITEL is on a holistic path, strategizing towards the future, seeking to focus on new opportunities in the digitalized technological space and become a national trendsetter. Moreover, the divestiture also signals SLT’s move towards shedding non-performing subsidiaries.