Thursday, Sep 24, 2009
NEW DELHI (Dow Jones)--India's Bharat Sanchar Nigam Ltd. is yet to take a decision on participating in a consortium to buy a 46% stake in Kuwait's Mobile Telecommunications Co. (ZAIN.KW), the state-run company's chairman and managing director said Thursday.
"There was a proposal, which we haven't yet taken a decision on," Kuldeep Goyal told reporters on the sidelines of an industry conference.
"Zain is a large operator. It is a huge deal," he said, adding that his company may partner with state-run Mahanagar Telephone Nigam Ltd. (500108.BY) if it decides to join the consortium.
Kuwait's Kharafi Group had invited small investors in Zain to sell their shares as part of a proposed sale of a 46% stake to a Malaysian-Indian consortium in a deal worth about $13.7 billion.
-By Rakesh Sharma, Dow Jones Newswires; +91-9886929464; dhanya.thoppil@dowjones.com
(END) Dow Jones Newswires
24-09-09 0854GMT
