Govt to merge BSNL, MTNL; unveils Rs 68,751 crore revival package

Ravi Shankar Prasad also said that the government has no plan to close or disinvest MTNL and BSNL and expressed confidence that BSNL will become profitable in two years.

Written by October 23, 2019 17:17

New Delhi: The Union Cabinet on Wednesday approved merger of Mahanagar Telephone Nigam Limited (MTNL) with Bharat Sanchar Nigam Limited (BSNL).

Briefing reporters after the cabinet meeting Communications and Electronics and Information Technology Minister said that a revival plan for BSNL and MTNL has been approved.

“We are going to merge MTNL with BSNL. Since MTNL is a listed company with shares the merger will take time. Till then MTNL will act as a subsidiary of BSNL,” he said.

Ravi Shankar Prasad also said that the government has no plan to close or disinvest MTNL and BSNL and expressed confidence that BSNL will become profitable in two years.

.”Neither MTNL or BSNL are being closed, nor being disinvested,” he said (ANI)