It has a cash reserve of $6 billion
Bharat Sanchar Nigam Ltd (BSNL) has bid for Millicom’s Sri Lankan operations, the chairman of the Indian firm said on Wednesday.
Chairman Kuldeep Goyal did not provide further details on BSNL’s bid.
Millicom has put its assets in Sri Lanka, Laos and Cambodia up for sale, and expects to complete the deals by the first quarter of 2010.
UAE’s Emirates Telecommunications Corp (Etisalat) on Monday said it had bid for the Sri Lankan assets. BSNL has said it is open to expanding overseas, and was considering an invitation to join a consortium that is buying a 46 per cent stake in Kuwaiti telecom firm, Zain.
Goyal also declined to comment on the Zain deal. On Tuesday, he told Reuters it was still under consideration.
BSNL, which has cash reserves of over $6 billion, would need the government’s nod to make any big investment.
HCL Info, BSNL join hands for broadband programme
Telecom major BSNL and systems integrator HCL Infosystems will work together on the National Broadband Penetration Programme that intends to accelerate IT proliferation in rural India by offering a solution to increase personal computer (PC) and broadband penetration.
This solution will be available for Rs 2,250, followed by Rs 300 per month for the PC and a subsidised broadband package at Rs 99 or Rs 150 per month.
The Department of Telecommunications’ Universal Services Obligation Fund has provided a subsidy of Rs 4,500 per broadband connection that BSNL will roll out through its existing 27,789 rural and remote telephone exchanges.
HCL Infosystems’ HCL Touch network — comprising 14 remote support centres, 505 service offices, 390 warehouses and 150 repair centres — will provide support to these services.
