India BSNL chair:to start Zain due diligence soon
BANGALORE |
BANGALORE Oct 23 (Reuters) - Indian telecoms Bharat Sanchar Nigam Ltd [BSNL.UL] and Mahanagar Telephone Nigam Ltd (MTNL.BO) will soon start due diligence of Kuwaiti telecom Zain (ZAIN.KW), BSNL's Chairman Kuldeep Goyal said on Friday.
BSNL and MTNL have been invited to join a consortium, comprising little-known Indian firm Vavasi and a Malaysian investor, which has agreed to buy a 46 percent stake in Zain. (Reporting by Sumeet Chatterjee; Editing by Jarshad Kakkrakandy)
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