Government Approved merger of BSNL and MTNL companies

The Central Government has approved the Merger of Bharat Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam Limited (MTNL) companies.
The government decided to merge loss-making telecom companies MTNL and BSNL as part of a revival plan of Rs 29,937 crore. It includes raising sovereign bonds, monetizing assets and voluntary retirement schemes for employees.
BSNL is an Indian state-owned telecommunications company founded on 1st October 2000 in New Delhi. It is the largest provider of fixed telephony with more than 49% market share.
MTNL is a telecom service provider founded on 1st April 1986 in New Delhi. It provides services in Mumbai, New Delhi in India and in the Island Nation of Mauritius in Africa.

Published On : 24 Oct 2019