State-run telecom companies MTNL and BSNL will be merged, said Union Minister Ravi Shankar Prasad said on Wednesday. “The government is neither shutting nor divesting stake in MTNL and BSNL,” the minister said after the Union Cabinet gave an in-principle nod to the merger of the ailing companies. The move comes at a time public sector companies MTNL and BSNL are facing financial stress amid intense competition in the telecom sector.
Mr Prasad also said the the government would make the voluntary retirement scheme (VRS) more attractive for BSNL and MTNL employees.
Source By NDTV