India to exit entire 26.12% stake in Tata Communications
The Indian government will exit its entire 26.12% shareholding in Tata Communications Ltd., the company said in a regulatory filing late Friday.
The government will sell a 16.12% stake through an offer-for-sale via stock exchanges, Tata Communications said in the statement. The remaining shares will be sold to Tata Sons Pvt.’s investment arm Panatone Finvest Ltd. immediately after that sale, it said.
Panatone Finvest currently owns 34.8% of Tata Communications, while Tata Sons has a 14.1% stake in the company. Bloomberg
You must be logged in to post a comment Login