The Sri Lankan government has been struggling with the cash-strapped Telecom PLC, as current authorities continue to push for privatisation of many sectors to revive the economy amid the recent financial crisis.

Sri Lankan government had invited applications from potential bidders for Sri Lanka Telecom PLC by November 10, and Mukesh Ambani’s Jio Platforms was one of three companies that expressed interest in buying the stake of the firm, reported Moneycontrol.

The Sri Lankan government on January 12 issued a press release where it named Jio Platforms as one of the potential bidders for their government telecom company. Apart from Jio, the other two companies in the running are Gortune International Investment Holding Ltd and Pettigo Comercio International LDA.

The press release further said that the proposals by the company will be “evaluated as per the Special Guidelines on Divestiture of State-Owned Enterprises approved by the Cabinet of Ministers.