Tata Teleservices to sell up to 49 pc stake

New Delhi, Mar 16: Tata Teleservices Ltd (TTSL), the telecom arm of the 29 billion dollars Tata Group, is planning to sell as much as 49 per cent stake in its mobile-phone tower unit.

''We are offloading between 26-49 percent, said Managing Director Tata Teleservices Ltd Anil Sardana. The company has short-listed 15 potential investors, out of a total 30 firms, which showed interest in the business. It will be competing with the Bharti and Anil Dhirubhai Ambani groups in the tower units business and plans to seek similar, if not better valuations than its competitors.

TTSL currently has over 10,000 towers, while Tata Teleservices Maharashtra Ltd (TTML), which provides services in the state has over 3,500 towers.

UNI