Tata Communications to sell 74 per cent stake in its subsidiary to Singapore Technologies Telemedia

Tata Communications is reportedly planning to sell its 74 per cent stake in Tata Communications Data Centre Private Limited to Singapore Technologies Telemedia. The deal is said to be valued at $600 million-$650 million. The proceeds will be utilised to reduce Tata Communications’ debt, which stood at Rs 95.9 billion as of September 2015. Tata Communications Data Centre provides data centre services in India, the US, the UK and Singapore and operates 44 data centres spread over an area of 1 million square feet.