Tata Communications International, a wholly owned subsidiary of Tata Communications in Singapore, has divested its 26% stake in STT Tai Seng (STT Tai Seng), which operates the data centre business in Singapore, to STT APDC, a wholly-owned subsidiary of STT GDC (STT GDC) at an agreed consideration based on fair market value and changing market conditions.
Tata Communications continues to maintain 26% stake in the India Data Centre business of STT GDC and the Company continues to benefit from the rub off effect on its network services due to this investment.
This divestment is in line with the company's strategy to evolve the business portfolio by focussing on offering digital infrastructure services through the Growth and Innovation Services portfolio, complementing an asset light growth model.
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