Looks like we have a virtuous cycle of investment going on. Not only the mobiles, but the fixed operators too are engaging in significant investment. Possibly the unusual predilection of the Sri Lankan consumer for fixed phones, over mobile, keeps Suntel going.
For those not from Sri Lanka, 1 USD = 106 LKR, just lopping off two zeros will you a good sense of what is being discussed.
Telecom operator Suntel, a unit of Sweden’s Overseas Telecom AB, plans to spend 3.5 billion rupees next year to expand its network, officials said Friday.
Suntel which uses a combination of traditional wireless and a mobile wireless technology known as CDMA, had spent around 3.0 billion rupees this year to extend services to remote parts of the country.
On Friday, the firm signed up for a 3.0 billion rupee syndicated loan, to partly offset this year’s expansion costs and meet funding requirements for next year.