Telecom services provider Tulip Telecom has reportedly received takeover interest for its data centre unit, mainly from foreign bidders.
The company is reportedly looking to sell a 30% stake in wholly-owned subsidiary Tulip Data Center Services for…
Telecom services provider Tulip Telecom has reportedly received takeover interest for its data centre unit, mainly from foreign bidders.
The company is reportedly looking to sell a 30% stake in wholly-owned subsidiary Tulip Data Center Services for US$60m, and said it has received interest from at least 25 potential buyers. Nomura has reportedly been appointed to advise it on the sale.
Hardeep Singh Bedi, Tulip’s chairman, was quoted saying that its data centre business will represent a quarter of the company’s overall revenue by 2013, compared with 5% now.
He said the sale should be completed within six months.
In January, it was reported that Tulip Telecom had acquired data centre company SADA IT Parks for Rs2.3bn (US$50.3m).
The company will be owned and operated through Tulip Data Center, wrote local newspapers at the time.
Tulip is looking to invest Rs9bn (US$197m) in the company over the next three years in order to build data centre facilities that can be leased out to customers, reports added.
