Government rules out MTNL delisting amid stock surge, confirms senior official

The government has no plans for de-listing the shares of the ailing Mahanagar Telephone Nigam (MTNL), a senior government official told FE on Wednesday, adding that reports to the contrary are incorrect.

The comment came in the wake of a four-fold sure in MTNL share price in less than a year, presumably because investors bet on the stock, in anticipation of de-listing. This followed reports of an earlier plan of the government to merge the loss-making company with Bharat Sanchar Nigam (BSNL).