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Government may veto Tata Communications’ decision to buy TTSL’s enterprise business

May 28, 2018

The government may veto Tata Communications’ decision to buy the enterprise business of Tata Teleservices (TTSL) when it comes up for shareholders’ approval unless all government dues are cleared.

The government owns 26 per cent in Tata Communications which requires the government’s support as a shareholder to proceed with the acquisition in addition to a later-stage approval from the Department of Telecommunications (DoT).

TTSL owes the government around Rs 100 billion for spectrum-related charges and licence fees. The company has requested the government to collect the dues at a later stage, when it approaches the National Company Law Tribunal (NCLT) for approval.

On May 8, 2018, N. Chandrasekaran, Chairman, Tata Sons met Aruna Sundararajan, Secretary, DoT to discuss the closure of Tata Teleservices’ consumer mobile business, as well as Tata Communications’ plan to buy the enterprise business of TTSL. It was decided that Tata Communications board has to first approve the proposal to acquire TTSL’s assets.

 
 

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