BWA payment: MTNL borrows Rs 4534 cr

NEW DELHI, INDIA: State-run telecom player Mahanagar Telephone Nigam Limited (MTNL) has taken a loan of Rs 4533.97 crore to pay for the BWA spectrum. The telecom player has taken the loan from ICICI Bank,Central Bank and Yes Bank, an MTNL official told CIOL.

“We have raised debt from ICICI Bank, Central Bank and Yes Bank for payment,” confirmed Anita Soni, director (Finance), MTNL.

Earlier, MTNL had come up with the expression of interest from banks, seeking a loan of Rs 4000 crore to pay for the BWA spectrum fees. The company has already taken a loan of Rs 2500 crore from Axis Bank to pay for the 3G spectrum.