MTNL withdraws from Zamtel stake sale Mahanagar Telephone Nigam Limited (MTNL) has abandoned its bid to buy 74 per cent stake in Zambian operator Zamtel following Bharat Sanchar Nigam Limited’s (BSNL) withdrawal from the deal. MTNL and BSNL were to jointly bid for the stake, which has attracted seven other bidders. MTNL, which had previously bid for licences in various Asian and African countries like Kenya, Sri Lanka, Saudi Arabia and Bhutan, has been unable to commence foreign operations due to insufficient funds. In order to increase its revenues, the operator has decided to share its 1,250 towers and optic fibre network in the Delhi and Mumbai circles with private operators. It also plans to use its land assets to generate revenues through advertising and renting. MTNL is currently in the process of enhancing its broadband operations through its fibreto-the-home network.
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