Marubeni May Pick Up Stake In Bt-Vsnl Venture

Japanese heavy engineering giant Marubeni is likely to be roped into the proposed $500 million venture of Videsh Sanchar Nigam Ltd with British Telecom (BT) for a regional telecom hub in India.

Infrastructure Leasing & Financial Services (IL&FS) is also likely to pick up equity in the project, which has been hanging fire almost a year, BT officials said.

Indian companies will hold 51 per cent in the project, while 49 per cent will be held by foreign partners. However, BT and VSNL will hold equal stakes in the project, dubbed