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Reliance-Tata Merger Talks under progress
By: Tupaki Desk | 4 Aug 2017 5:43 PM GMT
Tata Group is mulling to reduce the burden on the organization by selling its loss-making Telecom Services & it's related assets to Reliance Industries Ltd (RIL). Neither Tata Group nor RIL issued any confirmation over the talks regarding the deal.
Earlier, Tara Trusts and Reliance Foundation collaborated for cancer cure and providing high-speed connectivity. Recently, Tara Group bought Jamshedpur Franchise of Indian Super League which is a Men's Football League managed by RIL. The firms have been maintaining good relations in the recent past.
N Chandrasekaran, Tata Group Chairman, is working on handling the issues of Tata Tele. He wished to reduce the Rs 30,000 crore debt of Tata Tele as much as possible. DTH Service Tata Sky and World's largest submarine network Tata Communications might go on sale. Tata Group owned 60% stake in Tata Sky and 49% in Tata Communications.
Competitors were badly hit with the entry of Reliance Jio which promised lucrative offers to consumers. Only four telecom operators might exist in Indian market by 2020. While three of them are private operators (Jio, Airtel, Vodafone-Idea), The other one is state-run BSNL.
Earlier, Tara Trusts and Reliance Foundation collaborated for cancer cure and providing high-speed connectivity. Recently, Tara Group bought Jamshedpur Franchise of Indian Super League which is a Men's Football League managed by RIL. The firms have been maintaining good relations in the recent past.
N Chandrasekaran, Tata Group Chairman, is working on handling the issues of Tata Tele. He wished to reduce the Rs 30,000 crore debt of Tata Tele as much as possible. DTH Service Tata Sky and World's largest submarine network Tata Communications might go on sale. Tata Group owned 60% stake in Tata Sky and 49% in Tata Communications.
Competitors were badly hit with the entry of Reliance Jio which promised lucrative offers to consumers. Only four telecom operators might exist in Indian market by 2020. While three of them are private operators (Jio, Airtel, Vodafone-Idea), The other one is state-run BSNL.
