Cabinet allows, BSNL, MTNL to return 4G spectrum
NEW DELHI (Reuters) - The Union Cabinet allowed state-run telecommunications carriers Bharat Sanchar Nigam Ltd BSNL.UL and Mahanagar Telephone Nigam Ltd (MTNL.NS) to return their 4G radio spectrum and get refunds of a total 112.6 billion rupees, in a move to help the money-losing companies.
The government will refund 67.24 billion rupees to BSNL and 45.34 billion rupees to MTNL in a staggered manner, Information and Broadcasting Minister Manish Tewari told reporters on Thursday after a meeting of the cabinet.
BSNL and MTNL had received the spectrum in 2010 but have not yet launched the services.
(Reporting by C.K. Nayak; editing by Malini Menon)
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