TATA Comm To Go Global With $2 Billion
By Nikhil Pahwa - Wed 13 Feb 2008 09:02 PM PST
[by Cerius Shah Tata Comm, the integrated brand comprising of the fomer VSNL, VSNL international, Teleglobe, Tata Indicom Enterprise Business Unit (TIEBU) and Cipris brands worldwide, has announced a $2 billion plan over three years to fund global expansions. The NYSE listed TATA Comm will make investments to the tune of $1 billion in submarine cables and WiMax services, through which it plans to cover 100 cities and towns and $1 billion in network expansion. [via release and Reuters]
Tata is also looking to further its footprint in South Africa, where it holds 51% stake in operator Neotel. This makes it the fifth operator, after Reliance (FLAG and Yipes), MTNL (Nepal & Mauritius), Bharti Airtel (Sri Lanka) and Essar (Kenya), to have an international operator presence. Shares of Tata Communications rose 3.5 percent on Wednesday to 463.6 Indian rupees.
