Tata Teleservices Limited (TTSL) is reportedly in talks with international mobile roaming service provider, Matrix Cellular, to buy a majority stake in the latter. According to the proposed deal, TTSL will initially acquire a 15 per cent stake in Matrix, which will gradually be increased to 75 per cent. Matrix is valued at over Rs 3.5 billion with a targeted growth rate of 35-40 per for fiscal year 2009. The deal will enable TTSL to offer lower call rates to its subscribers travelling abroad, as well as provide seamless global roaming which is difficult under its current CDMA technology. The MobileStore, the Essar Group’s telecom retail arm, is also reportedly in talks with Matrix for a proposed merger.
