Indian state-run telecoms firm, Mahanagar Telephone Nigam Ltd (MTNL.BO) (MTE.N), plans to spin off its real estate and mobile towers into a separate arm, the Economic Times reported on Tuesday.
The property and towers are worth more than 60 billion rupees ($1.2 billion) and will help MTNL, which provides telecoms services in New Delhi and Mumbai, raise funds for its expansion by selling the assets or a possible listing, it said.
The newspaper quoted an unnamed MTNL official as saying a final decision would taken by the company's board.
MTNL Chairman R.S.P. Sinha did not offer any comment when contacted by Reuters. ($1=51.4 rupees) (Reporting by Devidutta Tripathy; Editing by Ranjit Gangadharan)
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