GTL to hive off IT business

By agencies   |   Friday, 25 August 2006, 07:00 Hrs
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MUMBAI: GTL Ltd., a network services company has decided to hive off its Information Technology business by the end of 2006, a senior company official said.

Pinakin Gandhi, vice President strategic planning said, “We are exploring several options. We will either sell it off altogether or spin it off into a separate entity."

The IT services division had recorded revenues of 82.95 million for the 15-month period ending June 2006.

Gandhi added GTL has also set aside $100-$200 million for acquisitions over the next two years.

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