Tata Comm receives $ 83 mn from NTT DoCoMo for stake in TTSL

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Tata Comm receives $ 83 mn from NTT DoCoMo for stake in TTSL

TT Correspondent | Mumbai | 25 Mar 2009

Tata Group company, Tata Communications (formerly VSNL) announced that it received $ 83 million (Rs 424 crore) from NTT DoCoMo for its stake held in sister concern, Tata Teleservices.

The stake of Tata Communications was acquired by Japan’s NTT DoCoMo which had last year acquired 26 percent stake in TTSL. Tata Communications is reported to have 15 percent stake in TTSL.

"The company has received an amount of about Rs 424 crore pursuant to sale of its partial holdings in Tata Teleservices Ltd," Tata Communications said in a regulatory filing to the Bombay Stock Exchange.

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25 Mar 2009(IST)

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TCL(formerly VSNL)underthe CEO&MDship of Mr N Srinath is continuing to fall.First,he wrongly misused VSNL resourvier of Rs.4000 crore and now asked the GOI to give permission to raise 600crores of loans,which is rejected by GOI.Now his 424 crore by sale of shares(TTSL) is his new brainchild.125 years of rich History/reservour has been looted by Mr N Srinath and his family. Can GOI or CBI /CVC take notice of this loot as still GOI hold 27% of TCS(VSNL)stake.Why GOI /CBI are sleeping till new SCAM.

Posted By :- Venugopal,Chennai

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Venugopal,Chennai--------3/26/2009

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