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Govt shortlisting advisors for BSNL-MTNL merger
September 29, 2004 17:04 IST
The government on Wednesday said it has begun the process of scrutinising the names for appointment of advisors to synergise operations of the telecom PSUs -- BSNL and MTNL.
"We had called people to show interest to advise us in mergers and synergies. We have just got the Letters of Interest from them. There is a committee which is looking into it which will formalise it and identify the advisors. We will shortly shortlist them," Union IT and Communications Minister Dayanidhi Maran said on the sidelines of a Microsoft event.
The Department of Telecom has not fixed a time-frame, he said, adding the DoT has not yet shortlisted any advisors.
Asked who all have applied, he said: "Every eligible person who is fit to advise."
Earlier this month, in the first ever indication of a possible merger of MTNL and BSNL, Maran had said government was appointing advisors for synergising their operations.
"We are looking at possibilities to synergise the operations of BSNL and MTNL and as part of that process we are looking for some good merchant bankers who could suggest us in this process. Synergies will do good for MTNL and BSNL as both are strong companies," he had said.