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Govt puts MTNL, BSNL restructuring on hold

Govt puts MTNL, BSNL restructuring on hold
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First Published: Mon, Jul 20 2009. 11 31 PM IST
Updated: Mon, Jul 20 2009. 11 31 PM IST
New Delhi: The Union government said on Monday the proposed restructuring of state-owned Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) ahead of their possible merger has been put on hold.
“A consortium of consultants led by ICICI Securities, appointed to advise the government in restructuring MTNL and BSNL for achieving higher synergies in their operations, has suggested some options for restructuring,” minister of state for communications Gurudas Kamat told Lok Sabha. “Since the enabling conditions for the suggested options are not appropriate...the restructuring of BSNL and MTNL has been put on hold for the time being,” he said.
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First Published: Mon, Jul 20 2009. 11 31 PM IST