Tata Teleservices, the basic services arm of the Tata group, will be investing Rs 3,555 crore in the next five years in rolling out basic telephony network in four new circles of Delhi, Gujarat, Tamil Nadu and Karnataka. The company has also upped its stake in the Internet service provider Tata Internet to 50 per cent and will eventually merge the ISP with the basic services company.
Tata had got letters of intent (LoIs) for 15 basic telephony circles, of which it has surrendered seven and converted four into licences. For the remaining LoIs of Maharashtra, Punjab, Haryana, Rajasthan and Kerala, the company has got an extension till October 31. S Ramakrishnan, managing director of Tata Teleservices said:
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