Tata Teleservices will spin off its cellular tower business
into a separate unit in three months. The company has
also earmarked Rs3,500 crore for expanding services
in more towns across the country.
company, which has invested Rs1,000 crore in the tower
business so far, is in talks with six companies to operate
its towers, Tata Teleservices CEO Darryl Green said.
Tata Teleservices operates CDMA mobile services in India,
the fastest-growing mobile phone market.
are passive infrastructure. We are actively discussing
with various companies on having them take over the
business," Darryl Green told reporters.
have a tremendous asset ... just about everyone you''ve
heard of has been in talks with us," he said, but
declined to name the companies or the valuation of the
rival Reliance Communications and the country''s leading
mobile services provider Bharti Airtel Ltd have also
plans to hive off towers business into a separate units.
have indicated American Tower Corporation, as also private
equity firms, including Blackstone and Carlyle, and
Singapore state investment firm Temasek Holdings, were
interested in Reliance Communications'' towers unit.
Teleservices, along with subsidiary Tata Teleservices
(Maharashtra) Ltd., has more than 15.5 million subscribers
company would invest Rs3,500 crore in 2007-08 for rolling
out services in more towns as it plans to add 100 million
subscribers by 2011 from the present 15.5 million, Green
Market leader Bharti Airtel and Vodafone, the newest
entrant in the Indian mobile space, too have targeted
addition of 100 million subscribers
the world''s fastest growing mobile market, is adding
over seven million subscribers every month.