The air of mergers has taken itself from the banking sector to the telecom sector. The central government on Wednesday decided to merge the state-owned loss-making firms BSNL and MTNL.
Union Minister Ravi Shankar Prasad: Neither MTNL or BSNL are being closed, nor being disinvested, nor is being hired to any third party. pic.twitter.com/Zbnqg4bJhyOctober 23, 2019
The merger is a part of the revival package that the government has planned for the two firms. Briefing media about cabinet’s decision Telecom Minister Ravi Shankar Prasad said the government will put in ₹29,937 crore for there revival. Post-merger MTNL would act as a subsidiary of BSNL.
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