3 Mar 2008
P.R.Sanjai
Mumbai: Tata Communications Ltd, formerly Videsh Sanchar Nigam Ltd, is in discussions with Temasek Holdings Pvt. Ltd for a possible stake sale in its retail and broadband business, a person familiar with the development said.
“Temasek is leading the race for a stake in the new retail business of Tata Communications, which is planning to invest at least $1 billion (around Rs4,000 crore) in the next three years to strengthen its broadband services (business). The company (Tata Communications) will continue to hold the majority stake in the retail business venture and Temasek will be a financial investor,” added the person who did not wish to be identified.
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