New Delhi: Singapore technologies Telemedia has emerged because the front-runner to collect majority stake within the data center enterprise of Tata Communications.
“ST Telemedia is the pinnacle contender to buy Tata Communications’ information centre business,” anindustry source instructed PTI.
according to the source, ST Telemedia is in talks to buy seventy four per cent stake inside the entitydealing with the facts centre business for approximately $650 million and the negotiations are at an advanced stage.
Tata Communications plans to use the proceeds from the deal to reduce its debt. The company‘s middleenterprise debt on the cease of December 2015 stood at round $1.4 billion. whilst contacted, Tata Communications said that as per agency‘s policy, it does now not comment on marketplace rumours. “We had in advance also showed vide our press launch dated 23 July 2015 that the enterprise has been exploring various strategic alternatives for its records centre infrastructure commercial enterprise in India and probably Singapore,” the corporation stated.
The organization has forty four information facilities of which 14 are positioned in India.
ST Telemedia too declined to comment. “it is our business enterprise‘s exercise not to comment onmarketplace
hypothesis,” ST Telemedia spokesperson Melinda Tan stated. ST Telemedia’s key business segmentscontain communications and media services, community offerings, records centres and emergingtechnologies.
(This tale has now not been edited by using NDTV personnel and is auto-generated from a syndicated feed.)