TTSL has offloaded a 7 per cent stake to Chennai-based entrepreneur C. Sivasankaran soon after a stake sale to Singapore's Temasek Holdings, wherein the latter bought a 9.9 per cent stake in TTSL. The deal with Sivasankaran is expected to be worth Rs 11-Rs 12 billion, though exact figures are not available. In all, TTSL has reportedly offloaded around 17 per cent stake for Rs 26.5-Rs 28 billion in these two transactions. The funds raised by the stake sale will be utilised for network expansion. TTSL's total project cost is estimated to be Rs 210-Rs 220 billion. Of this, close to Rs 160 billion has already been spent. Meanwhile, Sivasankaran is said to have a no-compete agreement with Malaysian cellular operator Maxis. As a result, he cannot hold more than 10 per cent stake in a competing telecom company.