The Tata group is preparing to shut down a large part of its telecom business and an announcement is likely later this month, according to industry sources. Senior executives at Mumbai-based Tata Teleservices, which operates wireless, wireline and broadband services, have already been told of the possible closure, it is learnt. Even subscribers are being informally told to migrate to other service providers through MNP (mobile number portability).
Tata TeleservicesBSE -0.67 % Ltd, the mobile arm of the Tatas, has a Rs 34,000 crore debt. It has failed to find a buyer for years and is now said to be looking at all options, including the extreme step of possibly shutting down the business
Tata Teleservices likely to shut down this month
Tata TeleservicesBSE -0.67 % Ltd, the mobile arm of the Tatas, has a Rs 34,000 crore debt. It has failed to find a buyer for years and is now said to be looking at all options, including the extreme step of possibly shutting down the business
Tata Teleservices likely to shut down this month