BSNL says Zain deal expensive: paper

BSNL says Zain deal expensive: paper
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First Published: Mon, Oct 26 2009. 09 07 AM IST
Updated: Mon, Oct 26 2009. 09 07 AM IST
Mumbai: Indian state-run telecoms firm Bharat Sanchar Nigam Ltd (BSNL) feels a $13.7 billion price for a 46% stake in Kuwait’s Zain Telecom is expensive, the Business Standard reported on Monday, citing the firm’s chairman.
“We think at the current price the deal will be very expensive,” the paper quoted BSNL chairman Kuldeep Goyal as saying.
The paper added BSNL was ready to pay no more than $10 billion for the stake, without attributing it to anyone.
BSNL officials could not be immediately reached for comment.
Last week Goyal said BSNL and another state-run firm Mahanagar Telephone Nigam Ltd will soon start due diligence of Zain.
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First Published: Mon, Oct 26 2009. 09 07 AM IST
More Topics: BSNL | Zain | Acquisition | India | Kuwait |