MTNL plans to sell assets in Mumbai through DIPAM

Sarkaritel
By Sarkaritel September 19, 2020 18:30


New Delhi, Sep 19  State-run telecom operator MTNL has submitted a set of assets for monetisation through the framework of the Department of Investment and Public Asset Management (DIPAM), which comes under the Finance Ministry.

The assets proposed for sale include land, staff quarters and telephone exchange in Mumbai, said Anurag Thakur, Minister of State for Finance and Corporate Affairs, in reply to a question in the Lok Sabha.

“MTNL has submitted a set of assets for monetisation through the DIPAM Framework…. No property in Delhi is presently under monetisation through the DIPAM Framework,” he said.

He informed the Lok Sabha that international property consultants have been appointed for end-to-end transaction advice on monetisation of these properties.

Noting that the asset monetisation process is a complex one involving multiple stakeholders and agencies, he said that a specific time frame for the completion of these monetisation transactions cannot be defined at present.

The value at which the assets would be monetised would depend on the feasibility of monetisation of the asset, the monetisation model and the market conditions prevailing at the time of monetisation, Thakur said, adding that it would be difficult to anticipate the sale proceeds presently.

Sarkaritel
By Sarkaritel September 19, 2020 18:30