GoM defers BSNL-MTNL merger; approves BSNL land sale to CBSE for Rs 64 crore

New Delhi: A Group of Ministers, chaired by Defence Minister Rajnath Singh, is learnt to have deferred merger of public sector telecom firms BSNL and MTNL due to financial reasons, according to government sources. The group of ministers (GoM) has also approved the sale of 6,000 square metres of BSNL land in Noida to Central Board of Secondary Education at the rate of over Rs 1 lakh per square metre.

The Cabinet had approved Rs 69,000 crore revival package for loss-making telecom firms BSNL and MTNL, which included approval to merge both the companies.

“GoM had deferred merger of MTNL and BSNL, mainly due to high debt on MTNL,” according to an official source.