New Delhi, June 23: Eager to expand its footprint
overseas, state-owned BSNL on Tuesday said it has a war-chest of
about six billion dollars (approximately Rs 30,000 crore) and
is looking for acquisitions, especially in South Africa.
"We are looking at various options, whether it is new
licences being issued or partnering with existing players in
the overseas markets," BSNL Chairman and Managing Director
Kuldeep Goel told reporters on the sidelines of a conference.
"We have cash balance of over Rs 30,000 crore with us and
BSNL has already got a go-ahead from the government to apply
for overseas licenses," he added.
South Africa is one of the potential markets for
acquisitions.
The PSU is looking at Africa as an area of focus as it is
an emerging region and also culturally, financially, African
countries suit more to India firms.
The state-run firm offers telecom services throughout the
country except in Delhi and Mumbai where MTNL operates.
The PSU has already short-listed eight consultants,
including Ernst & Young, McKinsey, KPMG and
PriceWaterHouseCoopers, for its plans of mergers and
acquisitions, strategic partnerships and overseas forays.
According to sources, BSNL has also empaneled British
Tele Consults, Value Partners, PRPM Consults and Diamond
Management and Technology Consultants for its global forays.
Bureau Report
