BSNL’s bid offer to acquire the Sri Lankan operations of Millicom has been rejected as it was found out to be low.

It remains to be seen if BSNL is given a chance to increase its bid offer and if given whether the company will make a new offer.

Meanwhile some other biggies too have thrown in their hats for the bid. Etisalat, India’s Bharti Airtel and Russia’s Vimpelcom have joined others in the race.

Bharti Airtel which already has operations in Sri Lanka can rise to number 2 in the market if it is able to acquire Milllicom’s Sri Lanka operations.