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MTNL surrenders 800Mhz CDMA spectrum for Rs 428 Cr

State-owned telco MTNL has received a compensation amount of Rs 428.95 crore from the government in return for surrendering 800 Mhz of CDMA spectrum, after MTNL originally proposed Rs 458.04 as compensation, the company said in a notification to BSE. A separate ET report in early March stated that MTNL had surrendered 5 Mhz of CDMA spectrum that was put up for auction in Delhi and Mumbai, and that it planned to invest around Rs 649.03 crore to revive its business. Last year in March, MTNL was among the five public sector undertakings (PSUs) the government planned to shut down, heavy industries minister Anant Geete had said during Question Hour in the Lok Sabha. However, union minister for communications and information technology Ravi Shankar Prasad later clarified saying the government did not plan to shut down the loss-making operator, and…

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