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BSNL to go direct to Zain if consortium talks fail

Fri Nov 6, 2009 5:55am EST

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NEW DELHI, Nov 6 (Reuters) - Indian state telecoms Bharat Sanchar Nigam Ltd [BSNL.UL] said on Friday it would directly engage Kuwait's Zain (ZAIN.KW) for purchasing a stake if talks by a consortium the Indian firm is part of fail.

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BSNL, along with Mahanagar Telephone Nigam Ltd (MTNL.BO), a smaller state firm, are part of a group led by little known Indian company Vavasi, which aims to take a 46 percent holding in the Kuwaiti firm.

Chairman Kuldeep Goyal said if BSNL had to go directly, it would take MTNL along with it. (Reporting by Devidutta Tripathy)

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