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VSNL acquires 100% stake of Tata Power in TPBB
By agencies
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Monday, 31 October 2005, 20:30 IST
MUMBAI: Videsh Sanchar Nigam Ltd (VSNL), has completed the acquisition of the entire stake of Tata Power Company Ltd in Tata Power Broadband Company Ltd (TPBB).
The company informed the Bombay stock exchange and National stock exchange that it had executed a share purchase agreement with Tata Power and purchased 100 percent shareholding in TPBB.
TPBB provides services under its IP-I, IP-II and the ISP licenses issued by the department of telecommunications (DoT) and has fiber optic network in Mumbai and Pune.
In the month of September, VSNL had informed the exchanges that it intended to acquire entire stake held by TPC in Tata Power Broad band Ltd (TPBB), its 100 percent subsidiary.