Probable African foray fails to cheer MTNL

MTNL closed at Rs 82.5 on the BSE, up by a mere 0.1 points or 0.1%. The stock had opened at Rs 83 and touched a high of Rs 84.4 and a low of Rs 82.2 during the day.
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(Updated at 1117 hrs)

MTNL rose 1.9% to Rs 84 on the BSE on reports that it is eyeing a majority stake in Zambia's leading telecom firm Zamtel and has signed a non-disclosure pact with the company.

MTNL opened at Rs 83 and has touched a high of Rs 84.4  and a low of Rs 83 so far.

The Zambian government plans to sell a 75% equity in Zamtel, valued at around $200 million.