Tata Teleservices (Maharashtra) Ltd (TTML.NS)
19 Oct 2017
* Approved raising of additional funds upto 200 billion rupees by issue of one or more types of securities Source text - http://bit.ly/2ypLLxT Further company coverage:
* Tata Teleservices (Maharashtra) - to consider proposal to raise additional funds upto an aggregate amount of 60 billion rupees Source text for Eikon: Further company coverage:
(The following statement was released by the rating agency) SINGAPORE, October 13 (Fitch) Bharti Airtel Limited's (BBB-/Stable) announcement that it plans to acquire the consumer mobile operations of Tata Teleservices and Tata Teleservices (Maharashtra) Ltd (Tata Telecom business) is positive for the deal participants as well as the industry, Fitch Ratings says. Bharti's credit profile will improve slightly as it is paying no consideration for the operations, which it would acquire free of debt.
MUMBAI Bharti Airtel Ltd is acquiring the Tata conglomerate's consumer mobile business virtually free of charge in a deal that gives India's top wireless player a major subscriber base boost, while stemming the bleed for Tata from a money-losing venture.
* High debt, eroding profit forcing India telco consolidation (Adds analyst comment, context on telecom market)
* Co, Tata entered into deal to merge consumer mobile businesses of Tata Teleservices and Tata Teleservices Maharashtra Limited into Bharti Airtel
MUMBAI, Oct 12 India's top telecommunications carrier Bharti Airtel will acquire the consumer mobile business of Tata Teleservices and Tata Teleservices (Maharashtra) Ltd, the companies said on Thursday.
* Gets shareholders' nod for issue of redeemable preference shares
* June quarter loss after tax 4.81 billion rupees versus loss 1.08 billion rupees year ago
* Says approved raising funds worth up to 13 billion rupees Source text: http://bit.ly/2wcSma6 Further company coverage: