Telecommunication Consultants of India Ltd., or TCIL, Wednesday invited expressions of interest for the sale of its entire 30% stake in Bharti Hexacom Ltd. through an open bidding process.
The rest of Bharti Hexacom is owned by Bharti Airtel Ltd. (532454.BY), which will get first right of refusal, said TCIL.
Bharti Hexacom provides telephony and related services in the Rajasthan state and in India's north-east region as well.
Potential investor can place an offer for TCIL's stake either as a sole bidder, as a special purpose vehicle formed for the purpose, or as a consortium with an identified lead bidder, TCIL said in a preliminary information document on its Web site.
TCIL is a state-run telecommunications and engineering consultancy while Bharti Airtel is India's largest mobile services provider by subscribers.
Source: Nasdaq