The public sector telecom company Bharat Sanchar Nigam Limited (BSNL) is eager to raise cash through its proposed equity listing, which will fetch funds for its overseas and domestic expansion plans, including 3G.

However, the formal communication between the Government and the state-owned telecom firm is yet to be initiated.

Last year BSNL board had approved a plan for government divestment of a 10% stake, but the plan could not be executed because of opposition by the unions.

Now analysts expect the new government to perk up the plans to list the company this year, or in early 2010. Regarding this A. Raja (newly appointed telecom minister) has already asked the BSNL management to kick off discussions with employees' union.

According to estimates, BSNL is worth $100 billion and dilution of 10% stake would fetch the company $10 billion.

Chairman and managing director of BSNL, Kuldeep Goyal said, "While we have cash reserves for the current fiscal, we would need to raise capital through the listing of the company to fund 3G, WiMax auction and overseas expansion."

A. Raja assured reporters that the 3G auction and spectrum allocation would be completed by the end of 2009.