Financial Daily from THE HINDU group of publications
Thursday, May 26, 2005
Financial Daily from THE HINDU group of publications Thursday, May 26, 2005 |
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Corporate
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Announcements Tata Power may divest stake in broadband biz Our Bureau
Mumbai , May 25 TATA Power Company is likely to divest its stake in Tata Power Broadband Company (TPBC) in favour of one of the telecom companies in the Tata stable. Tata Power will consider the sale of its shareholding in TPBC at its board meeting scheduled for Monday, said a stock exchange notice issued two days ago. Some time ago, Tata Power's broadband division was transferred to TPBC, and became a subsidiary. TPBC has over 850 km of optical fibre cable in Mumbai and Pune. There are plans to expand its activity in Delhi and Bangalore as well. TPBC's activity is not part of the core business of Tata Power, but is more compatible with the activities of Videsh Sanchar Nigam Ltd, which has drawn up big broadband plans, and Tata Teleservices Ltd, which provides mobile and fixed telephony services.
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