New Delhi, June 23: State-owned telecom firm Bharat Sanchar Nigam Ltd (BSNL) said on Tuesday it is waiting for the government`s approval for its initial public offer.
"We will have to await the decision of the government....
We will start negotiating with (employee) unions once we get
the government`s approval," BSNL chairman and managing
director Kuldeep Goel told reporters here on the sidelines of
a conference.
BSNL had proposed to dilute 10 per cent of the
government’s equity holding through an IPO to raise about 10
billion dollars. However, the offering was put off amid
opposition from the employees union.
The IPO proposal was submitted a year ago. "We have not
submitted any fresh proposal...our proposal is with the
government. If the government decides we have to go for the
IPO. Then we will talk to the unions and evaluate the
company."
On the company`s mega GSM tender, Goyal said Ericsson had
technically qualified for supplying equipment in the northern
and eastern parts of the country, while China`s Huawei had
qualified for the southern region.
BSNL will negotiate pricing with the two companies, he
said.
The company is yet to decide on a bidder for the western
region.
Bureau Report
