Plans to spin off the tower infrastructure assets of state-owned telecom provider Bharat Sanchar Nigam Limited (BSNL) into a new company have been approved by the cabinet, the Economic Times reports, citing a government notice. BSNL will retain full ownership of the new subsidiary, which will control around 66,000 mobile towers. Explaining the decision, the government’s statement noted: ‘An independent, dedicated tower company of BSNL with a focused approach will lead to increasing of external tenancies and consequentially higher revenue for the new company.’
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