MTNL

MTNL Engages SBI Capital Markets For Conducting Valuation Of Loss-making Nepal Unit

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Mahanagar Telephone Nigam Ltd (MTNL) has engaged SBI Capital Markets Ltd to conduct a valuation exercise of its loss-making Nepalese joint venture, United Telecom (UTL), while the telecom department prepares to seek reimbursement of incidental expenses from the finance ministry for the staterun carrier’s recent bond issue.

The telecom department is likely to ask for a little over Rs 1 crore to cover expenses such as stamp duty, arranger fees, listing fees, corporate action and rating agency fee incurred when MTNL raised Rs 765 crore of bonds backed by sovereign guarantee from institutional investors. The money was raised as part of the compensation for returning broadband spectrum. Original post at The Economic Times

Wahengbam Rorrkychand

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Website: http://www.blog.tonsetelecom.com

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