Vavasi led consortium which recently acquired stake in Zain Telecom’s African operations is set to approach PSUs BSNL and MTNL inviting them to join the consortium in conducting due diligence of Zain, reports the PTI.

"We are going to do the due diligence on Zain Telecom from next week. We will write to BSNL and MTNL to take part in the process along with us," Vavasi Managing Director Farid Afruddin told PTI.

The Group is also ready to look for other options among the private players if talks with BSNL and MTNL fail.

BSNL CMD Kuldeep Goyal recently said that the company may directly approach Zain if required. There are also talks of the Zain deal adding little value to the financial sheets as in some of the African operations the operator is recording moderate growth.