MUMBAI: The Tata Group
is investing around Rs 4,000 crore in two tranches in its telecom arm
Tata Teleservices, said four people aware of the matter, after banks
said they could not renew loans for Tata Tele until the company's annual losses were funded.
The investment is likely to be through a convertible loan instrument the exact terms of which are yet to be finalised. The group will invest Rs 2,500 crore now and Rs 1,500 crore in a few months, said one of the people.
The investment isn't meant to fund spending on the impending airwave auction to be conducted by the government, he said.
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The investment is likely to be through a convertible loan instrument the exact terms of which are yet to be finalised. The group will invest Rs 2,500 crore now and Rs 1,500 crore in a few months, said one of the people.
The investment isn't meant to fund spending on the impending airwave auction to be conducted by the government, he said.
SEE MORE
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