Tata Teleservices Ltd mulls 49 per cent stake sale in tower unit
08 Mar 2008
New Delhi: Tata Teleservices Ltd (TTSL), the telecom arm of the Tata Group, plans to sell as much as 49 per cent of its mobile-phone tower unit by May 2008.
The company has short-listed 15 potential investors, out of a total 30 firms, which showed interest in the business, Anil Sardana, managing director, TTSL said.
The company will be competing with the Bharti and Anil Dhirubhai Ambani groups in the tower units business and plans to seek similar, if not better valuations than its competitors.
TTSL currently has over 10,000 towers, while Tata Teleservices Maharashtra Ltd (TTML), which is listed and offers services in Maharashtra has over 3,500 towers.