Tata public offer for VSNL opens April 10

MUMBAI: The Tata group will make an open offer to public shareholders of

telecoms firm Videsh Sanchar Nigam Ltd. (VSNL) in April, the Bombay Stock

Exchange said on Friday.

The Tata's, one of India's largest industrial conglomerates, earlier this

week won the bidding for a controlling 25 per cent stake in state-run

international telephony monopoly VSNL by offering to pay Rs 202 a share.

The BSE said the Tatas would pay the same price in its offer to pick up to 20

per cent of the equity of VSNL from public shareholders.

The offer will be open from April 10 to May 9, it said. JM Morgan Stanley is

the lead manager to the offer.