Oct-13-2008, BSNL may delay its proposed $10 billion public offer, line up to be the largest in the country, due to the global financial crises. The telecom company had revived its IPO plans in July, after the Left parties withdrew support to the UPA government.
According to a top BSNL board member, "Yes, the market conditions are not conducive for a listing. I do not agree that the IPO has been shelved; it has been delayed. The political establishment can push it through, but that is not happening either. It (the IPO) therefore cannot happen during the current government's tenure. We will wait and see what happens after March next year. I must add that the management continues to favor the IPO
According to a top BSNL board member, "Yes, the market conditions are not conducive for a listing. I do not agree that the IPO has been shelved; it has been delayed. The political establishment can push it through, but that is not happening either. It (the IPO) therefore cannot happen during the current government's tenure. We will wait and see what happens after March next year. I must add that the management continues to favor the IPO
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