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Tata Sons may bankroll majority of TTSL’s dues worth Rs 100 billion

November 08, 2018

As per industry sources, Tata Sons is planning to bankroll most of the Rs 100 billion dues that Tata Teleservices Limited (TTSL) owes to the government. The move is being undertaken despite the fact that Bharti Airtel, which is buying TTSL’s mobility business, has formally assumed the responsibility to clear the dues.

In a letter to the Department of Telecommunications (DoT), Airtel and TTSL had confirmed that Airtel would take care of the payment, including payment towards licence fee, spectrum usage charge and one-time spectrum charge.

Earlier in October 2017, Airtel had proposed to buy TTSL’s consumer mobility business. DoT’s approval is the last step before the closure of the deal.

DoT had asked the two companies to clearly lay down the contours of the sale so that it could identify which entity would be responsible for the liabilities.


 

 
 

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