In one of the largest deals in West Asia, a consortium of Indian telecom firms led by Delhi-based Vavasi Group, which also hopes to rope in state-owned Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) and a Malaysian investor, will acquire a 46 per cent stake in Kuwaiti telecom company Zain for around $13.7 billion.MTNL and BSNL said they would like to clarify that no view has been taken regarding their participation in the consortium.
Asked if BSNL is looking to approach Zain directly, he said "no further progress as far as this proposal on Zain is concerned".
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