Business

Govt. defers merger of BSNL, MTNL

The merger of the two telecom public sector units — BSNL and MTNL — has been deferred due to financial reasons, including high debt of MTNL, the government informed Parliament on Wednesday.

In October 2019, the Union Cabinet had given an in-principle approval for the merger, along with a revival package worth almost ₹70,000 crore.

“However, due to financial reasons, including high debt of MTNL, the merger of MTNL with BSNL is deferred,” Telecom Minister Ravi Shankar Prasad said in a written reply to Lok Sabha.

As per government data, BSNL’s losses for the current financial year till September 20, 2020, stood at ₹3,607 crore, while that for MTNL was ₹1,220 crore.

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Printable version | May 12, 2021 2:48:48 AM | https://www.thehindu.com/business/govt-defers-merger-of-bsnl-mtnl/article34038864.ece

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