Tata Comm In Talks To Sell Stake To Temasek
By Nikhil Pahwa - Tue 04 Mar 2008 09:47 AM PST
Tata Communications, the recently constituted retail and broadband entity from the Tata Group is looking to raise money to fund its $1 billion investment over the next three years. Mint reports that Temasek, the investment arm of the Singapore Government, is the leading candidate for the stake. Tata Comm is also looking to spend $500 million by 2010 on setting up a WiMax nework, and is targeting 200,000 wireless broadband customers by March 2009. Tata Comm has launched WiMax services for business customers in Bangalore, and intends to expand the network to 120 cities for business customers, and five cities for retail customers by 31st March. Readers should bear in mind that Temasek has invested in another Tata company: the telco Tata Teleservices.
