Government looking to delist MTNL ahead of merger with BSNL – Business News India

read on the appA big news related to the telecom sector is coming out. Just before the merger of state-owned Mahanagar Telephone Nigam Limited (MTNL) and telecom company Bharat

Sanchar Nigam Limited (BSNL), the government is examining the process related to the delisting of MTNL. This has been said in a report of Economic Times. After this report related

to delisting came out, there has been a good boom in the shares of MTNL. The company's shares climbed up to 7% during the day's trading. At the end of trading, MTNL shares closed

at Rs 22.90, up 5.53 per cent. MTNL will have to be delisted before mergerA senior official of the Department of Telecommunications said, “The legal implications have been looked

into. We have appointed a consulting firm as an advisor. We hope to complete the merger of MTNL and BSNL by the end of next year, but before that we will have to delist Mahanagar

Telephone Nigam Limited (MTNL) from the stock exchanges. The 52-week high level of Mahanagar Telephone Nigam Limited shares is Rs 30.50. At the same time, the 52-week low level of

the telecom company is Rs 16.70. MTNL has a market cap of Rs 1442.7 crore. Also read- Adani crisis reaches foreign company, Rs 1.55 lakh crore drowned BSNL is

maintaining MTNL's mobile networkThe merger of the two loss-making telcos has been stuck for more than a decade. The department is now exploring synergy between the two companies.

However, BSNL is now maintaining MTNL's mobile network in the two operational metropolitan cities of Delhi and Mumbai. The official said, “The merger is necessary for the revival

of both the public sector companies. A company has to operate throughout the country to provide smooth services to the consumers. Now that BSNL's 4G services are ready to be

launched, the process of merger has been expedited. Also read- Shock to these 4 companies of Adani, shares fell by 80% from 52-week high BSNL appoints Deloitte as

consultant The official said that delisting is a long process and we have already held a few rounds of talks with the market regulator Securities and Exchange Board of India

(SEBI). He said that the external advisor would give a detailed report on the legal issues. Also, it will tell you how to proceed on the delisting process. BSNL has appointed

Deloitte as consultant for the process.