Govt likely to divest 30% stake in Bharti Hexacom JV

The Telecom Commission has today decided to get fresh valuations for Bharti Hexacom. Malvika Jain of CNBC-TV18 reports on the move by the government.

It has been over four years since talks of a possible stake sell of the 30 percent shareholding which the government has in Bharti Hexacom. Bharti Hexacom is a joint venture between Telecommunications Consultants India Ltd (TCIL) and Bharti Airtel, but there has been a lot of confusion on the issue of valuations on whether the government should actually go ahead and diverse this stake.

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In 2009, this stake of 30 percent was valued at Rs 1,800 crore. DoT sources have said that they informed the Telecom Commission that fresh valuations are being sought by the government on this stake. They also hinted at the possibility of the government choosing to divest its 30 percent stake in Bharti Hexacom before the end of this fiscal.