As per media sources, Tata Teleservices (TTSL) may release 26% stake to its JV partner American Tower Corp (ATC) for discontinuing rentals. Tata Group has already exited from mobile services. If it sells 26% stake, it might fetch Rs 5,000 crore while the penalty for early termination may be as much as Rs 7,000 crore. So, TTSL will still need Rs 2000 Crore.
TTSL will discontinue around 30,000 tower tenancies with ATC India and its unit Viom Networks. The 25,000 tenancies on the Viom network are locked in for six years, while 5,000 on the ATC India network are for three years.
According to ATC, TTSL accounted for $80 million, or 5 per cent, of its consolidated property revenue, including $32 million of pass-through revenue in the June quarter. TTSL accounted for approximately $40 million in gross margin for the quarter.
According to ATC, TTSL accounted for $80 million, or 5 per cent, of its consolidated property revenue, including $32 million of pass-through revenue in the June quarter. TTSL accounted for approximately $40 million in gross margin for the quarter.
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