The Corner Of The Circle

The government has referred the pricing of the proposed domestic offering of one million Videsh Sanchar Nigam Ltd (VSNL) shares to the Election Comm-ission.

This was recommended by investment bankers and the core committee on disinvestment which met yesterday to discuss the issue.

The Cabinet last week cleared the VSNL selloff, scheduled to be launched in early August. However, the government has decided to defer a final decision pending clearance from the Election Commission.