MTNL, BSNL merger proposal being examinedAugust 11th, 2011 - 12:42 am ICT by IANS
New Delhi, Aug 10 (IANS) The Department of Telecom (DoT) is examining a proposal to merge state-run firms ITI and Mahanagar Telephone Nigam Limited (MTNL) with Bharat Sanchar Nigam Limited (BSNL) to make them more competitive, the Lok sabha was informed Wednesday.
“The recommendations of the Board for Reconstruction of Public Sector Enterprises (BRPSE) are being examined by a committee constituted by DoT, headed by member (services), Telecom,” Minister of State for Communications and IT Milind Deora said in a written reply in the house.
The BRPSE, a government body, made the recommendation in 2010 regarding the merger of telecom manufacturing unit ITI and MTNL with BSNL.
At the Bombay Stock Exchange, while the shares of MTNL closed 8.91 percent up at Rs.43.40, those of ITI closed 10.91 percent up at Rs.26.95.
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