Bharti-Singtel Pulls Out Of Race For Vsnl Stake

The Bharti-SingTel combine Monday said it is pulling out of the race for a 25 per cent stake in Videsh Sanchar Nigam Ltd (VSNL), slated for disinvestment in the coming months. The company decided to withdraw from the bidding process citing limited funds and a decision to focus on its cellular business for the moment.