No Bail Out for Mahanagar Telephone Nigam Limited (MTNL)

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It sounds like Mahanagar Telephone Nigam Limited will not be getting any India Government bali out and will have to sell off company assets or mortgage its real estate holdings.

A senior MTNL official said, “Earlier this week, we received a communication from the telecom ministry saying that it won’t be able to provide any financial assistance for VRS, which MTNL is planning to offer its employees.” The only option for the company to raise funds is either to sell or mortgage its real estate.

1 COMMENT

  1. Good. They don’t deserve nor do they need a bali out from the government. Why do big companies all of sudden think that they can simply be bailed out every time they mess up? Makes no sense to me. Commercial business.

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