Bharat Sanchar Nigam (BSNL)
in its bid to go overseas, is keen on acquisitions of companies in Africa and
Middle East.
BSNL has joined a
seven-company consortium for Europe India Gateway (EIG) for an undersea cable
Atlantic link in which the company will invest about $50 million (approx Rs.24.5
crore).
Apart from this, the
equal share JV between BSNL and MTNL-promoted Millenium Telecom will also lay
two undersea cable links - one for the east and the other for the west. The east
cable will be from India to Singapore and another to Europe. The proposed
project involves a total investment of $300 million (approx Rs.1,470 crore).
Also See:
UTStarcom bags
BSNL contract