Tatas To Sell 26-51% Stake In Tower Biz

Ratan Tata wishes to unlock value in his telecom businesses and so Tata Teleservices (TTSL) has began to demerge its tower business. Tata Tele wants to divest 26-51 per cent stake in its tower business but if it gets a good price it can exit completely. The company also wants to transfer the management control. Tata Tele is also revamping its debt and readjusting some of company''s borrowings into the tower business before inviting bids for the equity stake. Tata Tele has already said that it is investing around $800 million to add another 1000 towers this fiscal. Tower companies GTL and Quipo might be the best partners for Tata Tele. Temasek has already infused and may pick up stake in the tower entity.