The department of telecom (DoT) has asked state-run Telecom
Consultants India Ltd (TCIL) not to divest its stake in
Bharti Hexacom Ltd (BHL), Rajasthan''s largest cellular
operator. Instead DoT asked TCIL to subscribe fully to
the rights issue offered by BHL and fund it from internal
should not divest its 30-per cent equity and continue
to have its stake in BHL. TCIL should subscribe to the
rights issue offered by BHL to the fullest extent and
it should be subscribed by TCIL from its internal resources,"
DoT wrote in a letter to G D Gaiha, chairman and managing
director of TCIL.
DoT move is likely to hamper the Sunil Mittal group''s
plans to increase its stake in the Bharti Hexacom. The
Bharti group, which runs Airtel, the largest cellular
firm in the country, has a 67.5-per cent stake in BHL
and has made a bid to acquire another 30-per cent stake
in the company.
intends to exit the cellular business and had invited
bids for divesting its 30 per cent stake in BHL. Meanwhile,
the Shyam group, the original promoters have also made
a bid to acquire TCIL''s stake in BHL.
leading certified public sector undertaking, TCIL is a
premier telecommunication consultancy and engineering
company with a strong base in telecommunication and information
technology (IT). Incorporated in 1978 by the DoT, TCIL
is backed by the vast network of BSNL and MTNL, in terms
of training and manpower,
research and development. TCIL offers total telecom solutions
for projects worldwide.
has projects and consultancy jobs in nearly 45 countries,
mainly in Africa, Southeast Asia and Europe and provides
world-class technology and Indian expertise in all fields