Tata Communications denies stake sale plans

16 Oct 2008

According to Reuters, Indian wireline and broadband provider Tata Communications has denied reports that is planning to sell a stake in its retail broadband unit. Srinivasa Addepalli, senior vice president of corporate strategy, was quoted as saying, ‘There are no plans at this stage.’ The denial follows reports in March 2008 in which another company official claimed that the operator was considering the sale of a small stake. According to TeleGeography’s GlobalComms database, Tata Communications had 375,000 broadband subscribers at the end of June 2008, giving it a 7.2% market share, well behind market leader Bharat Sanchar Nigam Ltd (BSNL) with 38.5%.

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