Diversified Telecommunication Services
Company Overview of Tata Teleservices Limited
Company Overview
A, E & F Blocks
Voltas Premises
T. B. Kadam Marg
Chinchpokali
Mumbai, 400033
India
Founded in 1995
Phone:
91 22 6667 1414
Fax:
91 22 6660 5335
Key Executives for Tata Teleservices Limited
Tata Teleservices Limited Key Developments
Tata Sons Limited and Telenor ASA (OB:TEL) are seeking merger or sale options for Tata Teleservices Limited. Both have appointed merchant bankers to advise them on a possible strategic alliance that could include merger or sale of equity in Tata Teleservices. While Telenor has appointed Citibank, the Tatas have roped in Lazard to study all options for their telecom business. The Tatas own 59.5% in Tata Teleservices and NTT DOCOMO, Inc. owns 26% in Tata Teleservices, while the remaining equity is held by minority investors, including the Sivasankaran group. Tata spokesperson said: “The query raised is speculative and Tata Teleservices, as a policy, does not comment on speculation.” A Telenor spokesperson said the company would not comment on rumours and speculation, adding: “What the group has said is that it is not compelled to participate in any merger or acquisition, seeing that its current six-circle footprint allows it to serve every second person in India. At the same time, it will evaluate any such opportunities, should those become available and make business sense.” Also, Citibank official said the bank did to comment on confidential client mandates and Lazard declined to Business Standard.
Telenor ASA (OB:TEL) and Tata Teleservices Limited merger discussions are falling through.
The Chief Technology Officer of Tata Teleservices Limited, AG Rao, has quit the company amidst speculation that the company's managing director N Srinath will shortly move to a larger strategic role in the Tata Group.
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To contact Tata Teleservices Limited, please visit www.tatateleservices.com/t-aboutus-ttsl-organization.aspx. Company data is provided by Capital IQ. Please use this form to report any data issues.
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