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| Tata Tele recasts short-term debt into long-term debt |
| Press Trust of India / Mumbai Nov 19, 2009, 14:51 IST |
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Tata Teleservices (Maharashtra)'s GSM capex plan would be over by June 2010 and the company has recast its short-term debt into long-term debt, a top compnay official said.
"The GSM capex plan will be over by June next year," Tata Teleservices (Maharashtra) Limited (TTML) Managing Director Mukund Rajan told reporters here today.
The company has already spent around Rs 1,000 crore, he said.
Earlier, he launched the first GSM experience store in the city. The Tata group official also said that the company had recast its short-term debt to long-term debt upto 2019.
The company's current net debt stands at Rs 3,300 crore, he said. Tata group launched its GSM arm, DoCoMo in Mumbai and Maharashtra in August.
Mukund said that the company's Earnings before Interest, Taxes, Depreciation, and Amortization (EBIDTA) was likely to be impacted in the next two quarters in view of the GSM roll-out plans.
Mukund said that the company was awaiting spectrum allocation from the Department of Telecom to expand its network further.
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