Tata Teleservices to look for options
The loss making unit of Tata Group , Tata Tele Services is considering to close down the mobile services business. Chairman N Chandrasekharan is evaluating various and best possible options by having discussions with other telecom companies to sell its stake in the telecom venture, but nothing concrete has materialised. If the group goes ahead with its plan, it will be the first major Tata unit to be closed down in its 149-year-old history. Tata Group is looking to shed non-core and loss-making business to focus on core business as it is sitting on a debt of USD 25 billion and Tata teleservices has 4 percent market share of Indian mobile telecom market and has 45 million mobile subscribers and the parent company Tata Sons, has made efforts to turn around Tata Tele by deciding to infuse Rs 12,000 crore recently after it had invested Rs 2,000 crore in the financial year 2016-17. The company can reduce its debt by selling telecom spectrum.... Read More