India’s MTNL reports defaults as debts continue to mount up

The African Development Bank (AfDB) has approved a US$160 million loan to Axian Telecom to support the operator’s plans to upgrade its nine subsidiaries in Africa and explore expansion into new markets.

Philippines-based operator Globe Telecom sold off more towers in a deal sealed back in 2022, raising PHP13.5 billion (US$234 million) to support future capex plans and pay down debts.

The Indian government has reportedly made a INR920 million (US$11,006,235.72) payment towards the bond dues of the struggling state-owned operator MTNL. Another INR640 million (US$7,657,535.01) payment is likely to follow from the government …