Tata Teleservices Limited (TTSL) plans to shut down its telecom operations in the circle of Jammu & Kashmir (J&K), says news reports.
The operator will withdraw telecom services in J&K from January 17, 2012.
TTSL?s decision follows the Supreme Court?s verdict resulting in the 2G licence cancellation. Of the 122 122 2G licences, that were cancelled, three belonged to TTSL. TTSL had the option of bidding for these licences by participating in the recently concluded 2G spectrum auction. However, given the high base price of the spectrum, TTSL decided not to participate in the spectrum auction.
The closure of services by the operator in J&K will affect 120 of employees. Employees laid off owing to closure of operations will be provided three months salary. A few staff members will also be given the option of relocationg to other circles.
In next few days, company will take a decision on its existing telecom infrastructure and assets. TTSL had launched telecom services in J&K in December, 2008. It had invested about Rs 1 billion in establishing its telecom infrastructure in the region.
