BSNL asset sale plan

The department of telecommunications has mooted a draft cabinet note on asset monetisation of BSNL and MTNL as part of a Rs 69,000-crore revival package for the state-owned telecom firms.

Officials said the asset monetisation will help the two operators to upgrade their network, offer voluntary retirement schemes and also repay a part of their debt.

The two PSUs have a combined debt of about Rs 40,000 crore.

Sources said CBRE, JLL and Knight Frank — the consultants appointed to identify the land and other properties for monetisation —have submitted their preliminary reports. The land parcels identified are spread across the country in locations such as Mumbai, Thiruvananthapuram, Chennai and Ghaziabad.