In 1997, NTT bought 35 per cent of a badly managed government phone company called SLT along with the right to manage it for five years for USD 225 million. The decision was bracketed by the Central Bank attack (on a per capita basis more devastating than the World Trade Center hit of 11 September 2001) and the bombing of an empty [Sri Lankan] World Trade Center. Many wondered what the logic was. One explanation was that NTT saw Sri Lanka as a stepping stone to India. But no step was taken.
Others saw it as the only sensible foreign investment made by NTT, a high-cost operator that was completely unaccustomed to the challenger role, but was the quintessential incumbent. Their culture meshed perfectly with the…
The first phase in a trial of an evolved version of today’s mobile phone radio access technology designed to deliver much higher wireless data rates has proven a success.
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