BSNL IPO plan highly tentative, says govt - Hindustan Times
close_game
close_game

BSNL IPO plan highly tentative, says govt

Hindustan Times | ByArchana Khatri, New Delhi
Jan 17, 2008 08:55 PM IST

The office of Communications Minister A Raja issues a statement to this effect, saying the minister had only tentatively responded to a reporter's question last Monday, reports Archana Khatri.

The office of Communications Minister A Raja issued a statement on Thursday that news reports that his ministry was considering an Initial Public Offer to divest a 10 per cent equity stake in state telecom behemoth Bharat Sanchar Nigam Limited was only a tentative proposal with no clear indication of if or when the company would go public.

HT Image
HT Image


The statement said the minister had only tentatively responded to a reporter's question last Monday.

Hindustan Times - your fastest source for breaking news! Read now.


"It was told by the Hon'ble Minister of Communications and IT that the matter would be discussed internally in the ministry and with various stake holders and then a suitable decision would be taken in this regard. IPO for BSNL would be issued, if considered appropriate and the same would be intimated to the media accordingly," it said.



The statement that underplayed widespread talk of a BSNL offer -- including the mention of a valuation figure of $100 billion attributed to BSNL's finance director SD Saxena -- followed protests from BSNL's unions and left-wing political parties opposed to disinvestment and privatisation.



The unions had threatened to strike work if the IPO plan was pursued.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Monday, March 04, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On