The Hindu Business Line : BSNL IPO only if it is appropriate, says Govt

New Delhi, Jan. 17 The Government said on Thursday that an Initial Public Offering by Bharat Sanchar Nigam Ltd will be considered only if it was appropriate.

“It was told by the Minister of Communications and IT (during the press conference on January 14) that 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,” said an official statement.

“In this connection, it is to be clarified that during the interaction with the Press on the occasion of launch of BSNL’s free insurance scheme for its customers, a question was put up to the Minister, whether Ministry is considering an IPO in case of BSNL in view of the large IPOs being issued by various private operators in telecom and other infrastructure companies,” it said.

As per the proposal, BSNL was planning to raise $10 billion by selling 10 per cent stake. The employees’ union had threatened to go on an indefinite strike from February 26 in protest.

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