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Government pushes, BSNL, MTNL, merger

The government has taken the initiative to combine state-run firms BSNL and MTNL

28 Jul 2008

The government has taken the initiative to combine state-run firms BSNL and MTNL. The merger may take place only after the BSNL's initial public offer (IPO).

Department of telecommunication (DoT) in 2004 had appointed a financial consultant to look into the proposed merger. It was then suggested that the merger would be more meaning full if both the entities are listed. MTNL is listed in BSE, but the BSNL is not. So efforts were made to list BSNL but the plans were shelved because of political opposition.

The UPA Government had taken the task of listed BSNL but it was not acceptable to the Left party. Now as the left party out of the UPA, the center is likely to push for an early IPO.

The government firmly believes that the merger would result a turnover of around Rs 45,000 crore.



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