BSNL-MTNL Merger

Given the complexity involved in the merger, it will take about two years to complete the whole process

The government should have merged BSNL and MTNL, and then looked at such a move, says an analyst

The government has deferred the merger of state-run telecom firms BSNL and MTNL due to financial reasons, Parliament was informed on Wednesday

BSNL Employees Union on Wednesday appealed to PM Modi to "drop proposal to merge MTNL with BSNL"

Public sector telcos continue to lose ground

It is learnt that the valuation done by the two companies is much higher than the one arrived at by the transaction advisors

Multinational companies operating in India and big domestic firms are grappling with an emerging challenge: How to deal with employees who refuse to take the Covid vaccine. Read top stories here

Move to merge may erode BSNL value, say officials

Services likely to be offered in Mumbai, New Delhi initially

For BSNL to be eligible for guarantee of Rs 8,500 crore, and MTNL to be eligible for guarantee of Rs 6,500 crore, the state-run telcos will have to pay a 1 per cent fee each.

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This is because the Union Budget does not have provision for any expenditure towards the programme in the current fiscal year

On October 25, the Centre approved a Rs 69,000 crore revival package for BSNL and MTNL

The company has received interest from 14,387 employees for the voluntary retirement scheme which Kumar expects will result in annual savings of Rs 1,700 crore for MTNL

Overall, the outstanding to creditors is Rs 10,000 crore, CMD P K Purwar added

On merger with MTNL, Purwar said discussions have started and boards of both the companies have met on a common platform

The government recently approved a Rs 69,000-crore revival package for BSNL and MTNL that includes merging the two loss-making firms

Modi has received more than $28 billion from state firms since he came to power in 2014, by extracting dividends or getting PSUs to buy out the government's stake

While in the case of MTNL, 13,532 employees have opted for the VRS scheme so far

MTNL has reported losses in nine of the past 10 years