INSUBCONTINENT EXCLUSIVE:
MTNL rose to as much as Rs 610 apiece on the NSE, marking an increase of 4.27 per cent.Shares of government-owned Mahanagar Telephone Nigam
In an official statement on Wednesday, the Cabinet said the plan is expected to enable the two companies to provide reliable and quality
services through a robust telecommunication network across the country including rural and remote areas
rose to as much as Rs 610 apiece on the National Stock Exchange (NSE), marking an increase of 4.27 per cent from its previous close."The
Union Cabinet approves the proposal for revival of BSNL and MTNL by administrative allotment of spectrum for 4G services, debt restructuring
by raising of bonds with a sovereign guarantee, reducing employee costs, monetisation of assets and in-principle approval of the merger of
stress amid intense competition in the telecom sector.MTNL and BSNL will monetise their assets so as to raise resources for retiring debt,
servicing of bonds, network upgradation, expansion and meeting the operational fund requirements
2:06 pm, MTNL shares traded 4.92 per cent higher at Rs 6.19 apiece, outperforming the Sensex which was down 0.29 per cent.Get Breaking news,
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