There's a rumour in CMB that UL is to be sold to QR after the upcoming elections in Sri Lanka.
I find it hard to believe becuase the company is in such bad shape. Four consecutive years of losses with a c/f loss at the end of the last financial year of just under a billion USD, and a negative equity of 500 million USD (according to a recent letter written by the UL management to shareholders).
Has anyone else here heard this rumour?
