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Tata Communications looking to acquire enterprise business of TTSL

May 09, 2018

Tata Communications plans to acquire the enterprise business of Tata Teleservices (TTSL) and has sought the approval of the Department of Telecommunications (DoT) for the same. The government is evaluating the proposal currently.

In October 2017, the Tata group said it would sell the consumer mobile businesses of TTSL and TTSL (Maharashtra) on a debt-free cash-free basis to Bharti Airtel. The transaction includes transfer of customers and assets to Airtel, including 178.5 MHz spectrum (of which 71.3 MHz is liberalised) in the 850 MHz, 1,800 MHz and 2,100 MHz bands. The acquisition is pending with multiple regulatory approvals.

At that time, TTSL was in the initial stages of exploring a combination of its enterprise business with Tata Communications. The acquisition of TTSL’s enterprise business is awaiting approval from the board.

The government owns a 26.12 per cent stake in Tata Communications, earlier known as Videsh Sanchar Nigam Limited (VSNL). Apart from the government, other promoters include Panatone Finvest with 30.12 per cent stake, Tata Sons with 14.07 per cent stake and Tata Power with 4.71 per cent stake. The remaining 25.01 per cent stake is held by the public.

 
 

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