Need USD500-600m equity in 3 yrs to retire debt: Tata Comm
Published on Mon, Feb 13, 2012 at 19:02 | Source : CNBC-TV18
Updated at Mon, Feb 13, 2012 at 19:04
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Need USD500-600m equity in 3 yrs to retire debt: Tata Comm
Tata Communications is looking for funds worth USD 500-600 million of equity over three years to retire debt, reports CNBC-TV18. Currently, the company has USD 1.5 billion of debt on books and is looking to explore various options to retire debt.
Tata Communications is looking for funds worth USD 500-600 million of equity over three years to retire debt, reports CNBC-TV18. Currently, the company has USD 1.5 billion of debt on books and is looking to explore various options to retire debt.
It is also looking at selective acquisition opportunities and will invest USD 200-250 million in FY13.
The company has seen positive movements in the land deal. It plans to resolve land issue within six months and then go ahead in raising equity.
Loss-making Tata Communications, has been suffering from a crash in bandwidth prices as a slew of global alliances between telecom companies launched their own undersea cables, leading to excess capacity.
