Tata Comm to divest majority stake in data centre biz to ST Telemedia for $630 mn

Tata Communications, which provides telecom and data services infrastructure through its network of undersea and terrestrial cables, has been looking to sell non-core assets to cut debt

Reuters May 19, 2016 12:25:12 IST
Tata Comm to divest majority stake in data centre biz to ST Telemedia for $630 mn

Tata Communications Ltd is selling a 74 percent stake in its data centre business to Singapore-based ST Telemedia for about $630 million including debt, the company said on Thursday.

Tata Comm to divest majority stake in data centre biz to ST Telemedia for 630 mn

Reuters

Tata Communications, which provides telecom and data services infrastructure through its network of undersea and terrestrial cables, has been looking to sell non-core assets to cut debt.

The ST Telemedia deal includes sale of a 74 percent stake in the company's 14 data centres in India for Rs 3,110 crore ($462.66 million), and sale of a similar stake in its three Singapore data centres for S$232.4 million ($168.37 million).

Tata Communications will continue to hold a 26 percent stake in the data centre operations, it said.

Updated Date:

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