TTSL to offload stake in passive infrastructure subsidiary
May 15, 2007
Tata Teleservices Limited (TTSL) is reportedly planning to divest 20 per cent stake in its yet-to-be-formed passive infrastructure company. Towards this end, it is currently negotiating with Singapore's state investment arm Temasek, which currently holds a 10 per cent stake in TTSL, and other private equity players. TTSL recently announced that it was planning to hive off its infrastructure business, which consists of all its wireless towers and other related telecom infrastructure, into a separate entity. However, TTSL intends to hold majority stake in the new entity. The deal with Temasek, if it materialises, could be one of the largest private equity deals in India.
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