Indian cellco Tata Teleservices (TTSL) is considering launching a rights issue to its shareholders in order to repay debt raised when the company bought 3G spectrum, wrote the Business Standard.
TTSL reportedly paid Rs58.64bn (US$1.3bn) to obtain…
Indian cellco Tata Teleservices (TTSL) is considering launching a rights issue to its shareholders in order to repay debt raised when the company bought 3G spectrum, wrote the Business Standard.
TTSL reportedly paid Rs58.64bn (US$1.3bn) to obtain spectrum in nine circles in May last year.
Sources close to the matter were quoted saying that Tata Sons (which has a 60% stake in TTSL), Japanese telco NTT Docomo (26%) and Singaporean conglomerate Temasek (9.8%) will participate in the rights issue.
According to the newspaper, the rights issue is not expected to alter the shareholding structure of the company.
The company could not be reached for comment before the press deadline.
