The scope of India's largest telecom company Reliance Jio may spread beyond the country's borders in the coming times. If all goes well, then Mukesh Ambani's company's telecom services can be started in the neighboring country Sri Lanka as well.
Jio Platforms showed interest
Recent developments show that Mukesh Ambani is planning to start a business in Sri Lanka. Showing interest in buying stake in government telecommunications company Sri Lanka Telecom PLC. For this, Ambani's company Jio Platforms Limited has shown interest and it has also been officially confirmed. The Government of Sri Lanka issued a statement last week regarding the process of privatization of the government telecom company there. It was told in it who is interested in buying stake in the Sri Lankan government telecom company.
Privatization era in Sri Lanka
Sri Lanka is going through an economic crisis these days. Sri Lanka's economic crisis had reached critical stage a year or two ago. The country, which was on the verge of bankruptcy, had received much-needed help from the International Monetary Fund at that time. The IMF had set some conditions in exchange for help, which also included privatizing non-core businesses. Under this, the government telecom company of Sri Lanka is also being privatized.
These 3 companies are taking interest
The government of Sri Lanka has started the process of privatization of Sri Lanka Telecom PLC from 10 November 2023. Started. Then the Sri Lankan government had asked potential buyers to express interest. The deadline of January 12 was fixed for this. After the deadline, the government gave information about the names of potential buyers in a statement. The Sri Lankan government said that Jio Platforms, Gortune International Investment Holding and Petigo Commercialio International LDA are involved in purchasing the government company.
Mukesh Ambani's net worth
Mukesh Ambani's Jio is already It has become India's largest telecommunication company. If the company is able to make a successful bid for Sri Lanka Telecom PLC, it will be its first expansion outside India. Mukesh Ambani's total wealth has recently again crossed 100 billion dollars. Along with this, he remains the richest person in entire Asia including India.
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