January 18, 2013

Press Release No. 1

News about Mahanagar Telephone Nigam Limited

The media had reports that Mahanagar Telephone Nigam Limited plans to sell its property.

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the company.

Mahanagar Telephone Nigam Limited has vide its letter inter-alia stated, "This is to inform you that MTNL is looking for monetization of its underperforming real-estate assets but issue is still at nascent stage and the monetization potential is under review. The process for appointing a consultant for asset review and monetization potential of underperforming real-estate assets is on and no finality has reached on that yet".