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Tata plans to sell 49% stake in tower unit

Tata plans to sell 49% stake in tower unit
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First Published: Sat, Mar 08 2008. 12 32 AM IST
Updated: Sat, Mar 08 2008. 12 32 AM IST
New Delhi: The Tata group, which runs businesses from steel to hotels, plans to sell as much as 49% of its mobile-phone tower unit by May.
The group has shortlisted 15 potential investors in the business, Anil Sardana, managing director of Tata Teleservices Ltd, the group’s telecom arm, said on Friday.
Tata Teleservices Maharashtra Ltd, which is listed, offers services in Maharashtra.
The Tata group is seeking similar, if not better, valuations as that of the tower units belonging to the Bharti group and the Reliance-Anil Dhirubhai Ambani Group, Sardana added.
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First Published: Sat, Mar 08 2008. 12 32 AM IST