Tata looking to buy Tyco’s network

10 Aug 2004

The Tata Group has confirmed that it is in talks with Tyco International to acquire its global telecoms network. Tata, which holds a stake in fixed and mobile group VSNL, has been looking to expand its telecoms operations for some time. Local media sources estimate the deal to be worth around USD200 million, but Tata has refused to provide any details. ‘All I can say is that we are in negotiations,’ said Chairman Ratan Tata. Tyco Global Network was valued as high as USD3.5 billion during the telecoms boom.