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Merger of state-run telecom firms put on hold
The government Monday said the proposed merger of the two state-run telecom operators - Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) - has been put on hold.
"Since the enabling conditions for the suggested options are not appropriate enough to lead to a successful merger and considering the complexity of the issues involved, the restructuring of BSNL and MTNL has been put on hold for the time being,” Minister of State for Communications and IT Gurudas Kamat told the Lok Sabha.
The government had earlier appointed ICICI Securities to advise it in restructuring the two public sector companies.
MTNL offers services in Mumbai and Delhi, while BSNL is operating in the rest of the country.
Last updated on Jul 20th, 2009 at 18:48 pm IST--IANS
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