A SERVICE AGREEMENT between state-run MTNL and BSNL will enable the former to take debt from the latter for maintenance of its assets in the form of inter-corporate debt (ICD).
The agreement is part of the arrangement wherein MTNL's telecom services in Delhi and Mumbai circle will be run by BSNL, which does not provide services in these two circles.
MTNL's revenue and Ebitda (earnings before interest, taxes, depreciation, and amortization) have been declining over several years and the telco has consequently defaulted in repayment of its debts and liabilities.
With the BSNL service agreement, the government wants to operate MTNL on an Ebitda-neutral basis.
This story is from the December 20, 2024 edition of Financial Express Mumbai.
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This story is from the December 20, 2024 edition of Financial Express Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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