MTNL’s overseas interests

Posted on | October 31, 2005 |

Business Standard reports that Mahanagar Telephone Nigam Ltd’s is eyeing a minority stake in a Chinese telecom company.

The company holds a 26.8% stake in United Telecom Ltd — a joint venture among VSNL (26.6%), Telecommunications Consultants India Ltd (26.6%) and Nepal Venture Private (20%). United Telecom provides basic telephony services using the wireless technology in Nepal. The company’s subscriber base is estimated at over 25,000.

MTNL also has a licence to offer fixed, cellular and international long-distance telecom services in Mauritius. The company intends to start the services shortly.

It is also in the race for acquiring a telecom licence in Kenya.

On the earnings side, MTNL reported a 15.40% decrease in net profit at Rs 167.89 crore for the second quarter this fiscal.

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