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Tata Tele puts stake sale in tower arm on hold
Published on Fri, Aug 08, 2008 at 21:51 , Updated at Mon, Aug 11, 2008 at 16:04
Source : CNBC-TV18
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 By Sandeep Gurumurthi/CNBC-TV18Tata Teleservices has put on hold its stake sale in the tower arm. "The move will not happen in the near-term. We expect higher valuations due to the advent of 3G. The company has exclusive rights over the Virgin brand. It is now up to Virgin to approach the company if they want to operate as mobile virtual network operator, or MVNO. Virgin can't approach third party for MVNO without Tata Teleservices' nod." The company will bid for 3G GSM spectrum, it added.
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