Tata Communications aims to raise INR30 billion for acquisitions, spectrum bids

9 Jan 2009

Indian fixed line and broadband operator Tata Communications (formerly VSNL) is planning to raise up to INR30 billion (USD605 million) through a combination of debt financing and a rights issue. According to local news sources the operator has approached the Indian government, which holds a 26% stake in the company, regarding the rights issue, which is expected to raise up to INR10 billion. The operator has been attempting to raise equity since early 2008, although the state has not approved any of the company’s previous proposals. It is understood that Tata Communications will use the funds raised to pursue acquisitions in both the US and the UK as part of its submarine cable projects. Additionally, Tata is expected to bid for Indian WiMAX spectrum when it is finally auctioned in the first half of 2009.

India, Tata Communications,

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Browse

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share