By sinha on 16, October, 2008 | Channel: Indian Telecom Industry

Tata Teleservices to sell 26% stake to NTT DoCoMo?

As mentioned earlier, Tata Teleservices is planning to sell 26% stake to NTT DoCoMo for $2.5bn (valuation of $9.6bn, i.e. 1/3rd of Bharati’s valuation).

Under the proposed deal, 20% of the NTT stake will be in fresh capital,adding $1.92 billion to the loss-making TTSL’s coffers. The remaining 6% will be sold by Tata group companies, such as Tata Power Co. Ltd, which hold stakes in the phone firm. Mint couldn’t immediately ascertain which other Tata firms would sell to NTT. – source

Tata Teleservices is a loss-making company and its cumulative losses stood at Rs 5,604 crore between 2005-07

Earlier, Emirates based Etislat bought 45% stake of Swan Telecom Private Ltd (valued @ $2bn).

Related: Tata Launches Global CDN, invests $11.5mn in BitGravity

 

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