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January 31, 2002 | 1540 IST 		Feedback  
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Government to invite VSNL bids on February 1

The Cabinet Committee on Divestment will clear the name of the winning bidder for divestment of the Videsh Sanchar Nigam Ltd on February 5, 2002.

The divestment ministry will invite the financial bids for sale of the controlling stake in the international telecom carrier on Friday, official sources in New Delhi said on Thursday.

The government holds a 52.97 per cent stake in VSNL and plans to reduce it to 26 per cent by selling 25 per cent along with management control to a private strategic partner and another 1.97 per cent to the employees of the New York Stock Exchange listed firm.

Reliance, Tata Telecom, and a consortium led by Sterling are in the fray for the VSNL pie.

UNI

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