Japan NTT to sell Sri Lanka Telecom stake to Maxis

(Reuters) - Japan's Nippon Telegraph and Telephone Corp will sell its entire stake in Sri Lanka Telecom SLTL.CM to Malaysia's mobile network operator Maxis Communications Bhd after a long legal battle, an official said.
"Maxis, the buying party has agreed to buy the whole -- NTT holding," Upali Mahamithawa, head of investor relations told Reuters, soon after the court ruling. "The deal will happen soon."
Sri Lanka's Supreme Court on Monday allowed Japan's NTT to sell its stake in Sri Lanka Telecom after a lengthy legal battle.
NTT holds 35.19 percent of Sri Lanka Telecom, while the government has a 49.5 percent stake in the company. The rest is held by the public. (Reporting by Shihar Aneez and Ranga Sirilal, editing by Jacqueline Wong)