Meet to decide CMC, VSNL sale

NEW DELHI: The CCD is also likely to deliberate on the sale of residual shares held by the government in CMC and VSNL at its next meeting. The government holds 26% of the paid-up equity capital in each of the former PSUs that were acquired by the Tatas.
The put option is already available with the government in the case of CMC, but in the case of VSNL, the sale of residual holding at this stage would amount to an early exit by the government. Sections within the government feel that the Centre would sell its residual holding in former PSUs before the shares lose value with changes in the business environment in which they operate.
The CCD would also discuss items relating to Hindustan Copper, Mineral Exploration, Dredging, Hindustan Organics and National Fertilisers.