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BSNL not to participate in Zain buy, says Kamath

BSNL not to participate in Zain buy, says Kamath
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First Published: Mon, Nov 23 2009. 03 47 PM IST
Updated: Mon, Nov 23 2009. 03 47 PM IST
New Delhi: Public sector firms Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd have not joined a consortium seeking to acquire Kuwait’s Zain, minister of state for telecom Gurudas Kamath told the Parliament on Monday.
Kamath’s answer was in a written reply to a question submitted in Parliament.
BSNL and MTNL have been considering partnering India’s little-known Vavasi Group and Malaysian billionaire Syed Mokhtar al-Bukhary to take a 46% stake in Zain.
BSNL chairman Kuldeep Goyal has said the firm would directly open negotiations with Zain to take the stake if the consortium’s exclusive talks fell through.
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First Published: Mon, Nov 23 2009. 03 47 PM IST