MTNL studying Nepalese investment

17 Jul 2014

The Indian telco MTNL has appointed an advisor to evaluate its investment in Nepalese venture United Telecom Limited (UTL). SBI Capital Markets is to assist MTNL on deciding whether to increase its investment in fixed line operator UTL which is looking to expand into Nepal’s cellular sector, IBN reports. MTNL currently has a 26.68% stake in UTL, while Telecommunications Consultants India Limited (TCIL) and Tata Communications hold 26.66% each and Nepal Ventures Private Limited (NVPL) has 20%. UTL became Nepal’s first privately owned telco in July 2003 when it was licensed to offer basic telecoms services in the country.

Nepal, United Telecom Limited (UTL)