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.

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.

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"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.