BBNL-BSNL merger close at hand
Cleared by the Union Cabinet in its meeting on July 27, the merger of Bharat Broadband Network (BBNL) into Bharat Sanchar Nigam (BSNL) for setting up the country’s largest optic fibre cable (OFC) network is on track to close with the companies finalising swap ratio and valuation of assets and
Cleared by the Union Cabinet in its meeting on July 27, the merger of Bharat Broadband Network (BBNL) into Bharat Sanchar Nigam (BSNL) for setting up the country’s largest optic fibre cable (OFC) network is on track to close with the companies finalising swap ratio and valuation of assets and liabilities. Sources familiar with the matter said that the valuation report, undertaken by Deloitte, will be submitted by November 25 to BSNL. Besides, the draft merger scheme and the Board report will be submitted by December 18, according to sources familiar with the matter. The merger is aimed at creating a company that will lend a robust push to the government’s mega digital outreach programme under BharatNet.
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