The Indian government has decided to offload a 10% stake in state-owned BSNL.
In a high-level meeting – which involved senior officials from BSNL and the Department of Telecommunications (DoT) – chaired by Prime Minister Dr Manmohan Singh, it was decided…
The Indian government has decided to offload a 10% stake in state-owned BSNL.
In a high-level meeting – which involved senior officials from BSNL and the Department of Telecommunications (DoT) – chaired by Prime Minister Dr Manmohan Singh, it was decided that BSNL may also be exempted from sharing 6%-10% of its annual revenues as a licence fee levy to the government.
Both decisions were made in an effort to plug losses.
The licence fee exemption could save the firm US400m and a 10% stake sale could see it rake in a multibillion figure. It may offload the stake via an IPO.
