The IPO of Indian state-owned fixed-line operator BSNL could be delayed by at least two years, according to local media citing India’s Department of Telecommunications (DoT).
A working committee set up by the DoT to consider BSNL’s future reportedly…
The IPO of Indian state-owned fixed-line operator BSNL could be delayed by at least two years, according to local media citing India’s Department of Telecommunications (DoT).
A working committee set up by the DoT to consider BSNL’s future reportedly believes the operator should focus on improving its financial performance before listing.
For the full year ended March 31, 2010, BSNL recorded a net loss of Rs18.2bn (US$395m). The announcement marked the company’s first ever yearly net loss in the ten years since its founding in 2000.
The Indian government has been considering what to do with BSNL for a number of years, with options under consideration by the DoT’s internal panel including a share sale or restructuring.
DoT was unable to comment before the press deadline.
