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Tata Comm divests 26% stakes in Singapore data centre biz

IANS  |  Mumbai 

has divested its remaining 26 per cent stake in its Singapore-based subsidiary engaged in the

"International Pte Ltd (TCIPL) a wholly-owned arm of the company in has informed that TCIPL has divested its 26 per cent stake in (STT Tai Seng) that operates in to at an agreed consideration based on fair market value and changing market conditions", said in a regulatory filing.

The amount was not disclosed.

The Tata Communications stock was at Rs 492.55, slightly up by 0.4 per cent.

"This divestment is in line with our strategy to evolve on offering through growth and innovation service portfolio complementing the asset light growth model," the company informed the exchanges.

STT APDC is a wholly-owned subsidiary of STT GDC Pte Ltd.

--IANS

ana/kr

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, June 14 2019. 16:26 IST
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