Is Tata Comm eyeing strategic investors for cable biz?
Even as reports suggest that Tata Communications is considering roping in strategic investors for its under-sea cable business, the company said these reports are unfounded and have been floated by vested interests.
In an exclusive report quoting sources, CNBC-TV18 had said that Tata Communications is considering roping in strategic investors for its under-sea cable business.
Tata Communications had acquired Teleglobe and Tyco Global for USD 239 million and USD 130 million in 2005. Tata Group holds 49.98% stake in Tata Communications, which is valued at USD 2 billion.
Sources said Bharti is among the suitors for Tata Communications’ under-sea cable assets. When contacted by CNBC-TV18, Bharti said it does not comment on market speculation, and will neither confirm nor deny the news.