Tata Teleservices planning stake sale?

9 Jan 2006

Indian operator Tata Teleservices is planning to sell a 10% stake to a group of investors for around USD350 million, according to Indian daily the Business Standard. Singapore’s state-run investment agency Temasek Holdings is rumoured to be one of the investors. Tata Teleservices, which operates under the Tata Indicom banner, is India’s third largest local operator behind former duopoly telcos BSNL and MTNL. It has established itself as the market leader in CDMA-based fixed-wireless local telephony, which accounted for 57% of its total customer base, or 3.22 million subscribers, at the end of September 2005.

India, Tata Teleservices (TTSL, incl. TTML)