![\"\"](\"\/Themes\/Release\/images\/responsive\/ettelecom-default.jpg\")
Top officials in the department of telecommunications (DoT<\/a>) and the business house told ET that Tata Sons has informally conveyed to the government that the group is not keen on the deal now and would like to instead concentrate on strengthening the balance sheet of Tata Communications<\/a> (TCL<\/a>).
“Initially there was a lot of push for the merger and the Tata Group<\/a> wanted to pick up the enterprise segment of the telecom business urgently. But now it has all gone quiet,” a senior DoT<\/a> official told ET on condition of anonymity.
The government is a 26% stakeholder in TCL<\/a>, earlier known as Videsh Sanchar Nigam Ltd.
The official added that
About a month ago, senior executives of Tata Sons informed DoT that the business group is no longer keen that TCL picks up the enterprise, or B2B, segment of Tata Teleservices<\/a> (TTSL<\/a>), the group’s telecom service provider, the DoT official said.
However, no official mail has been sent on this, the person said.
Tata Sons declined to comment while emailed queries to TCL and TTSL<\/a> remained unanswered as of press time Wednesday.
With the TCL-TTSL deal falling through, Tata Sons would now need to again explore selling TTSL’s enterprise business to an external buyer.
Previously, private equity fund TPG Capital, along with Tata Group’s former employee Mukund Rajan, had offered $1 billion for the enterprise unit, which was reportedly rejected by the Tatas.
“Absence of complete clarity on DoT-related dues and simultaneously taking on another business, which will add to debt, may have been reasons for putting the merger in cold storage for now,” the DoT official said.
Tata Teleservices had nearly Rs 36,000 crore of debt on its books as of March end, most of it on account of its consumer mobility business, including about Rs 10,000 crore it owes the government.
At least Rs 20,000 crore of the balance Rs 26,000 crore has already been repaid by Tata Sons, people familiar with the development said.
DoT has been concerned as to who will pay off TTSL’s dues, and how much of TTSL’s debt will Tata Communications — which itself has a debt of over Rs 7,500 crore — take on.
The DoT official said it also wasn’t clear what will go to Bharti Airtel<\/a> — which had got into a deal to merge TTSL and its listed unit Tata Teleservices (Maharashtra)’s consumer mobility business with itself — and what will remain with TTSL, and subsequently go to TCL in case of any merger.
ET had reported earlier that Bharti Airtel<\/a> and TTSL had informed the DoT that the Sunil Mittal-promoted company would take care of the payment, including licence fee, spectrum usage charge and one-time spectrum charge of TTSL and TTML. However, most of it will be bankrolled by Tata Sons.
But, according to DoT officials, during recent meetings with Tata senior executives, payment details remained vague, prompting queries on the status of the sale of the enterprise business.
The Airtel-TTSL deal is pending National Company Law Tribunal<\/a> approval.
TCL TOLD TO STRENGTHEN FINANCIALS
Meanwhile, group holding firm Tata Sons has advised Tata Communications, which provides voice, data and next-generation service needs of carriers, enterprises and consumers across the world, to strengthen its financials.
Tata Sons’ finance team is holding a series of business review meetings with the management of the telecom solutions company, a group official said.
This at a time when Bharti Airtel and Vodafone Idea are beefing up their enterprise play ahead of Reliance Jio Infocomm’s imminent entry into the segment.
The FY18 net debt of Tata Communications stood at Rs 7,501.6 crore. The company reported consolidated net profit of about Rs 1.6 crore for the quarter ended September, against a loss of Rs 250 crore in the year-ago period. However, its income from operations was 4.2% lower year-on-year at Rs 4,068.22 crore.
This is not the first time that questions have been raised on the sale of TTSL's enterprise segment to TCL.
Earlier, minority investors were getting edgy over the lack of clarity in Tata Sons’ decision to sell enterprise business to TCL and the delay in the progress of the deal. They were concerned when Tata Sons did not disclose the bid amount offered by TCL compared to the TPG Capital-Mukund Rajan consortium’s bid.
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Prateek Pashine, who headed the enterprise business for TTSL, resigned recently, adding to the concerns about the future of that business.
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塔塔通信货架上购买塔塔电信业务的企业业务的计划
塔塔电信业务有近36000卢比的债务在其书3月结束,大部分的消费者移动业务,其中包括约10000卢比欠政府。
在电信部门的高级官员(点)和业务的房子告诉ET, Tata Sons非正式地传达给政府,并不热衷于交易现在想而不是专注于加强资产负债表塔塔通信(TCL)。
“起初有很多推动合并和塔塔集团想拿起企业迫切的电信业务。但是现在都已经安静下来,”一位高级点名不愿透露姓名的官员告诉等。
政府26%的利益相关者TCL早些时候,称为Videsh Sanchar尼噶。
这位官员补充说,
大约一个月前,塔塔的高管儿子告诉点商业团体不再敏锐,TCL拿起企业,或B2B,段塔塔电信业务(TTSL),该集团的电信服务提供商,交通部官员说。
但是,没有官方的邮件已经发送,这位人士说。
Tata Sons拒绝置评,而TCL和电子邮件查询TTSL周三仍悬而未决的截稿时间。
TCL-TTSL交易失败,塔塔的儿子现在需要再次探索TTSL的企业业务出售给外部买家。
以前,私人股本基金TPG Capital和塔塔集团的前雇员Mukund Rajan,为企业单位提供10亿美元,据说被再见。
“缺乏完整明确DoT-related会费,同时承担另一个业务,这将增加债务,原因可能是将合并在冷藏,“交通部官员说。
塔塔电信业务有近36000卢比的债务在其书3月结束,大部分的消费者移动业务,其中包括约10000卢比欠政府。
至少20000卢比的平衡26000卢比已经偿还Tata Sons,知情人士表示。
点一直担心谁将偿还TTSL的会费,TTSL多少的债务将塔塔通信——本身有一个超过7500卢比,承担的债务。
交通部官员说也不清楚要去什么Bharti Airtel——这已经达成协议合并TTSL及其上市子公司塔塔电信业务(马哈拉施特拉邦)' s消费者移动业务与自身——和留在TTSL,随后去TCL的任何合并。
先前曾报导,Bharti Airtel和TTSL通知点,苏尼尔Mittal-promoted公司将支付的照顾,包括执照费、频谱的使用费用和一次性频谱TTSL TTML主管。然而,大多数的资金由塔塔的儿子。
但点官员称,在最近的会议与塔塔高管支付细节仍然模糊,导致查询企业的销售业务的状态。
Airtel-TTSL交易正在等待国家公司法法庭批准。
TCL告诉加强财务
与此同时,塔塔集团控股公司Tata Sons建议通信,提供语音、数据和下一代服务运营商的需求,世界各地的企业和消费者,加强其财务业绩。
Tata Sons的财务团队举行一系列的商业评论会议与电信的管理解决方案公司,一群官员说。
这个时候Bharti Airtel和沃达丰的想法正在加强其企业提前玩依赖Jio Infocomm即将进入段。
塔塔通信的FY18净债务站在7501。6卢比。该公司公布合并净利润约1.6卢比截至9月份的季度,与去年同期亏损250卢比。然而,它的运营收入同比下降了4.2%在4068 .22卢比。
这不是第一次的问题已经出现了出售TTSL TCL的企业市场。
早些时候,中小投资者在缺乏透明度越来越前卫Tata Sons的决定出售企业业务TCL和推迟交易的进展。他们担心当塔塔的儿子没有透露TCL提供的投标金额相比,TPG Capital-Mukund Rajan财团的出价。
Prateek Pashine,领导TTSL企业业务,最近辞职了,增加了业务的未来的担忧。
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