Temasek takes Tata Tele stake

9 Mar 2006

State owned Singaporean investment company Temasek Holdings has paid USD330 million for a 9.9% stake in Indian CDMA operator Tata Teleservices. Tata Tele was licensed in 1997 and launched local wireline services in Andhra Pradesh in 1999. It holds unified access services licences (UASLs) for 20 out of India’s 23 telecoms circles — all but North East, Jammu & Kashmir and Assam — and had established a presence in 1,600 towns and cities across the country by the end of September 2005. In addition to local telephony the telco provides business-oriented services including ISDN and ADSL lines, VPNs and managed leased lines. It is also a market leader in fixed-wireless local telephony.

India, Tata Teleservices (TTSL, incl. TTML)