 Online edition of India's National Newspaper Tuesday, Mar 31, 2009 ePaper | Mobile/PDA Version |
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NEW DELHI: The Department of Telecom (DoT) has written to the Union Finance Ministry seeking its views on allowing telecom companies to sell their stake during the lock-in period provided half the money from the sale was given to the government, as recommended by the Telecom Regulatory Authority of India (TRAI) recently. The DoT has also sought the opinion from the Law Minister on the issue. The DoT is studying TRAI recommendations on stake sale suggesting a three-year ban on sale of telecom promoters’ equity. However, it said operators could do so after DoT’s provided that they give half of the money earned from the stake sale to government for telecom network expansion. TRAI had proposed that the DoT, in consultation with the Law and Finance Ministries, should explore the possibility of imposing conditions on the sale purchase transactions if any that had taken place. Earlier, the DoT had referred the matter to TRAI after allegations against the DoT for selling spectrum at throwaway prices.
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