Telephone operator MTNL intends to cut a part of its mammoth Rs 13,000 crore debt, the firm‘s CMD AK Garg told CNBC-TV18.
AK Garg, chairman and managing director of MTNL categorically denied rumours of large private company looking to buy stake in MTNL.
State-run MTNL managed to cut down on its losses by 30% to Rs 1,099.5 crore for the fourth quarter ended March 31, 2011.