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Cabinet nod to ITI equity sale in FIBCOM

Written by: Staff
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New Delhi, Mar 23 (UNI) The Union Cabinet today approved the proposed sale of entire equity holding of Indian Telecom Industry (ITI) in FIBCOM India Ltd, a joint venture company of ITI.

''ITI will get a net sale value of Rs 11.60 crore against its investment at the face value of Rs 4.60 crore in 19994,'' Information and Broadcasting Minister Priya Ranjan Dasmunsi told reporters after the Cabinet meeting.

He said the loss to the joint venture company will not have any affect on ITI.

UNI YJ VD KN1736

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