Tata Teleservices in talks with Indian lenders to repay debt early

Plans to pare cost and shut down its loss-making wireless telephony business

Tata Teleservices is in talks with Indian lenders to repay its debt before its maturity so that it can cut its finance cost and shut down its loss-making wireless telephony business.

The board of the company is meeting on December 20 to take a call on repaying its non-convertible bonds worth at least Rs 625 crore before their maturity date, according to a banker.

According to a source, Tata Teleservices will receive a capital infusion worth Rs 30,000 crore from its holding company, Tata Sons. It would use the money to repay lenders and NCD (non-convertible debenture) holders. The first tranche of