Govt may sell 30% share of BSNL in Public via IPO

Govt may sell 30% share of BSNL in Public by IPO. Finance minister Pranab Mukherjee's disinvestment-related revenues for 2010-11 are most likely to come from telecom with evidence that the government is seriously evaluating disinvestment of as much as 30% in BSNL, a company with assets worth Rs 88,000 crore and a turnover of Rs 35,000 crore. This is a three-fold hike in the investment limit from 10% proposed earlier, which has been opposed by BSNL's unions and executive associations. The unions will now be further provoked about the revival of the disinvestment process and an added proposal to retire 1 lakh employees through VRS schemes. BSNL has 90 million subscribers, 300,000 employees, India's largest 750,000 km optic fibre cable network and nearly 40,000 towers.
View full story at: Times of India