The Telecom Commission has put its divestment plans in Telecommunications Consultants India (TCIL) on the backburner, say news reports.
The Commission is reportedly examining the option of raising funds by offloading its 30 per cent stake in Bharti Hexacom. A subsidiary of Bharti Airtel, Bharti Hexacom offers mobile services in Rajasthan and the northeast.
It is believed that TCIL is planning to hire consultants to identify a suitable reserve price for its stake.
In case the Telecom Commission decides in favour of offloading its stake, the Bharti Group will reportedly obtain the right of first refusal.
Prior to this, the Department of Telecommunications had rejected TCIL?s proposal to offload its stake in Bharti Hexacom. Thereafter, TCIL began exploring the option of disinvesting 10 per cent stake, to raise funds to meet its capital expenditure.
