Tata Tele to sell up to 49% stake in tower company

Tata Tele to sell up to 49% stake in tower company
PTI
Comment E-mail Print Share
First Published: Fri, Mar 07 2008. 06 04 PM IST
Updated: Fri, Mar 07 2008. 06 04 PM IST
New Delhi: CDMA player Tata Teleservices will divest up to 49% stake in its tower subsidiary Wireless Tata Telecom Infrastructure Limited in the next two months.
“We will sell 26-49% stake in our tower company to a strategic investor. We have already started negotiations regarding this and the deal is likely to be completed by the end of May,” Tata Teleservices (TTSL) managing director Anil Sardana told reporters.
He said the company has shortlisted 15 strategic investors for selling the stake. The players include Quippo, GTL and others.
Asked about the valuation of the tower arm, he did not give any figure, but said if not better, the valuation would be similar to their competitors because of the quality of the towers.
TTSL has over 10,000 towers, while Tata Teleservices (Maharashtra) has 3,500 towers.
On the listing of TTSL’s tower subsidiary, Sardana said it would be decided after the strategic stake sale.
“We will also add 3,000 towers every year for the next five years,” he added.
The company, which has recently got approval for offering GSM services, would continue to focus on CDMA segment for providing data services.
“CDMA is a very good technology for providing data services, we will continue to focus on it,” Sardana said.
Comment E-mail Print Share
First Published: Fri, Mar 07 2008. 06 04 PM IST
More Topics: Tatatele | Ttsl | CDMA | Tower | Quippo |