Tags:
Journalism of Courage
The Telecom Commission (part of Telecom Department) has recommended that the government owned Telecommunications Consultants India Ltd (TCIL) divest its stake in Hexacom India Ltd, the Shyam Telecom-promoted cellular operator in Rajasthan. The agenda for a weekly Telecom Commission meeting in September states that TCIL’s holding in Hexacom at this stage is 30 per cent and the objective will be to disinvest 20 per cent subject to the approval of the TCIL board. Hexacom provides cellular services in the Rajasthan circle under the “Oasis Cellular” brand name.
Senior officials at TCIL could not be reached for comment despite several attempts.
TCIL is wholly-owned by the Union government and provides services ranging from telecom consultancy and turnkey project execution services. The purpose of the meeting has been clearly stated as one to seek the approval of the Telecom Commission for this divestment before it is sent to the Cabinet.
TCIL joined hands with Hexacom in 1995 to provide cellular services in Rajasthan. Hexacom holds a 40 per cent stake in Hexacom India through its group company Shyam Telecom. The foreign partners in the venture are Canada-based TIW and MTC Kuwait who through their associates and subsidiaries hold the balance 30 per cent.
