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Govt to soon invite bids for IBP, VSNL, ITDC

India will invite bids for a government stake in oil marketing firm IBP Co on January 31 and for overseas telecoms monopoly, VSNL on February 1, divestment secretary Pradip Baijal told Reuters on Tuesday.

"It has been finalised. By February 5 we will take the approval of the government and finish the process (of divestment) by February 15," Baijal said.

He said bids would be invited for some properties of the state-run Indian Tourism Development Corp and the Hotel Corp of India between February 17-24.

Baijal said the bid documents had already been made available to the companies interested in the privatisation process. He declined to give an estimate of the amount the government hoped to raise from the sale of its stake in these firms.

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