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Tata Teleservices closure may cost the group dear

Can look at options including sale of tower stake, fibre & enterprise businesses to partly cover Rs 28k-cr loan payback

Surajeet Das Gupta  |  New Delhi 

With the curtains likely to be drawn on Tata Teleservices soon, the group is staring at some serious challenges — paying debt of over Rs 28,000 crore to banks, deciding the fate of over 6,000 employees and battling the realisation that despite investing over Rs 50,000 crore (based on estimates) through the years, it would be able to recover little.   According to reports, Tata Teleservices is likely to wind down operations in phases, and has had discussions with the government. And, if a letter by former Tata group chairman Cyrus Mistry is to be believed, the fire sale or ...

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First Published: Mon, October 09 2017. 00:22 IST