NT formally starts process to hire strategic partner
ShareSansar, March 12:
Nepal Telecom has formally initiated the process to bring in a strategic partner for better performance of the state run telecommunication giant.
The highest taxpayer company has issued a tender notice to hire consultants to assist Nepal Telecom to find a strategic partner.
The interested consultants have been asked to submit their proposal within a month, according to the notice issued by NT yesterday.
It may be noted that some Indian and European companies have already expressed willingness to become NT’s strategic partner.
The consultants—Nepali or foreigner—with more than five years of experience in the telecommunications sector can submit their proposal.
The government, which holds 91 percent share in the company, is planning to hand over 25 to 30 percent of its stakes to the strategic partner.
Citizen Investment Trust (CIT) holds 0.03 percent of the company’s shares while ordinary shareholders and the company staff hold 3.97 and 4.5 percent shares respectively.
According to NT’s Managing Director Anup Ranjan Bhattarai said that they were looking for such a strategic partner, which has extensive experience in the field of Information Technology besides previous experience of working as a strategic partner for a telecom company.
“The strategic partnership will give competitive edge to Nepal Telecom as it will be much more efficient,” he added.
NT, which is also the largest company in the only stock market of the country in terms of share volume, has been mulling over strategic partnership to bring in the latest in the telecom sector to upgrade and expand its service to the people.
Earns Rs 19.6 arba in first six months
Meanwhile, the company has informed that its posted an impressive earning of Rs 19.69 arba in the first six months of the current fiscal year 2070/71, which is Rs 1.26 arba more than the income it made in the same period of the last fiscal.
From the earning, it has made a net profit of Rs 5.59 arba, the company further informed.
