Record losses at Bharat Sanchar Nigam (BSNL), India’s largest state-run telecom company, could impact hopes for an initial public offering.
The Indian government has been mulling over what to do with BSNL for a number of years, and an internal panel is…
Record losses at Bharat Sanchar Nigam (BSNL), India’s largest state-run telecom company, could impact hopes for an initial public offering.
The Indian government has been mulling over what to do with BSNL for a number of years, and an internal panel is currently reviewing options including a share sale or a restructuring.
The review was launched after earlier plans to sell 10% of BSNL fell through.
However, the Indian government’s task has become more challenging after the group posted a net loss of Rs18.2bn ($395m) at the weekend for the fiscal year 2009/2010. Tough competition in the country also pushed down revenues by 10% to Rs320bn (US$6.93bn).
