A management consortium backed by TPG Capital has offered USD1 billion for fibre assets and related businesses owned by Tata Teleservices (TTSL), the Economic Times reports, citing people with knowledge of the matter. The consortium is understood to be led by Mukund Rajan, Head of International Operations at the Tata Sons holding company. However, the sources have noted that Tata Teleservices has received multiple proposals for the fibre network, with Tata Communications also linked with a takeover deal.
TTSL is majority owned by Indian conglomerate Tata Group, whilst state-owned Singaporean investment company Temasek Holdings has a minority stake. In 4Q17 Japan’s NTT DOCOMO confirmed that it had transferred its 26.5% stake in TTSL to Tata Sons.