comscore Tata Sons Chairman meets DoT Secretary
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Tata Sons Chairman meets DoT Secretary

The government has close to 26.12 per cent stake or 7.44 crore shares in Tata Communications.

  • Published: May 8, 2018 8:53 PM IST
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New Delhi, May 8 (PTI) Tata Sons Chief N Chandrasekaran today met Telecom Secretary Aruna Sundararajan, amid Tata Communications’ stated interest in acquiring the enterprise business of Tata Teleservices. Also Read - Starlink told to get license before offering satellite-based internet services in India by govt

The government has close to 26.12 per cent stake or 7.44 crore shares in Tata Communications, the erstwhile Videsh Sanchar Nigam Ltd (VSNL). Also Read - Airtel uses Nokia equipment to successfully conduct first 5G trial in Eastern India

Asked if a final decision had been taken on the enterprise business, Chandrasekaran told reporters that the matter has to be taken up by the board of Tata Communications first. Also Read - Tata Motors to invest Rs 15,000 crore in EVs over the next 4 years to launch 10 new EVs

The meeting took place at a crucial juncture for Tatas vis-a-vis the telecom business.

While Bharti Airtel had last year announced the takeover of consumer mobile business of of Tata Teleservices Ltd (TTSL) and Tata Teleservices Maharashtra Ltd (TTML) in a cash-free, debt-free deal, Tata Communications had stated that it will explore the possibility of acquiring the enterprise business of Tata Teleservices.

He was accompanied by N Srinath, Managing Director of Tata Teleservices.

Chandrasekaran — who is the Chairman of the board of Tata Sons, the holding company and promoter of over 100 Tata operating firms with aggregate annual revenues exceeding USD 100 billion – declined to comment on the discussions that lasted almost 30 minutes.

Sundararajan also did not divulge the details of discussions.

Tata Communications had said on October 12 that it “proposes to engage in exploratory discussions with TTSL and TTML regarding the potential acquisition of its enterprise business”.

This is published unedited from the PTI feed.

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  • Published Date: May 8, 2018 8:53 PM IST



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