NEW DELHI: The Cabinet has approved hiving off the mobile tower assets of Bharat Sanchar Nigam Ltd. into a wholly owned unit of the state-run telco which can then monetize the assets to raise funds.“The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for hiving off mobile tower assets of Bharat Sanchar Nigam Limited (BSNL) into a separate company, fully owned by BSNL,” a government notice said Tuesday.
“This approval authorizes BSNL to monetize its telecom tower infrastructure with the formation of a separate subsidiary company,” it added.
There are around 4,42,000 mobile towers in the country out of which more than 66,000 mobile tower are of BSNL.
“An independent, dedicated tower company of BSNL with a focused approach will lead to increasing of external tenancies and consequentially higher revenue for the new company,” the notice said.
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