Tata Group May Shutter Telecom Unit; German Dry Docks Eyes Bharati Defence

Tata Group May Shutter Telecom Unit; German Dry Docks Eyes Bharati Defence

Tata Group chairman N Chandrasekaran is weighing the possibility of shutting down the conglomerate’s mobile telephony vertical, Tata Teleservices Ltd, after failing to find a buyer for the unit, a report in The Times of India stated, citing people aware of the development.

The report pegs the consolidated debt of Tata Teleservices at more than Rs 34,000 crore.

Data provided by the Telecom Regulatory Authority of India shows that Tata Teleservices has a wireless subscriber base of 4.20 crore as on 31 July 2017. The market share is about 3.5%.  Read More…

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