No view on acquiring stake in Zain: BSNL, MTNL | india | Hindustan Times
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No view on acquiring stake in Zain: BSNL, MTNL

The two telecom PSUs — BSNL and MTNL — on Wednesday said no view has been taken as of now regarding participation in a consortium to acquire 46 per cent stake in Kuwaiti telecom firm Zain.

india Updated: Sep 09, 2009 20:13 IST

The two telecom PSUs — BSNL and MTNL — on Wednesday said no view has been taken as of now regarding participation in a consortium to acquire 46 per cent stake in Kuwaiti telecom firm Zain.

"No such view has been taken with regard to participation in the deal," the CMDs of both PSUs said, while asserting that MTNL and BSNL are always on the look-out to explore all types of overseas business opportunities to expand their operations.

The PSUs' response comes in the wake of media reports that a consortium made up of India's Vavasi Group, regional telecom companies BSNL and MTNL and Malaysian investor will buy 46 per cent in Zain.