Government Invites Bids To Sell 6 BSNL MTNL Assets

Public Investment and Asset Management Services (DIPAM) started the process of securing revenue from non-core assets and today launched six new asset monetization portals for state-owned telecommunications companies Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL). . ..

“Monetization of non-core assets begins with the first set of six properties in the BSNL/MTNL list on the MSTC portal,” tweeted DIPAM secretary Tuhin Kanta Pandi.

The government is expected to offer telecom companies real estate for sale at a minimum price of around Rs. 1,100.

MTNL shares rose as much as 15% on Nov. 18 after it was revealed the government’s plans to revive the company.

Founded by the government in 1986, MTNL posted a loss of Rs 653 for the July-September quarter, up from Rs 583 last year.