1. Tata Comm shares gain on reports Google, Amazon in talks to buy data centre

Tata Comm shares gain on reports Google, Amazon in talks to buy data centre

Tata Communications shares gained around 4 per cent on Friday on reports Google Inc and Amazon are in talks to buy the data centre business of the company in a deal expected to fetch about Rs 4,261.40 crore to Rs 4,589.20 crore. The share price of the company closed 3.91 per cent higher at Rs 418.10 on […]

By: | Updated: August 21, 2015 5:34 PM
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Tata Communications shares gained over 2 per cent in the morning trade on Friday on reports Google Inc and Amazon are in talks to buy the data centre business of the company in a deal expected to fetch about Rs 4,261.40 crore to Rs 4,589.20 crore. (Express Photo)

Tata Communications shares gained around 4 per cent on Friday on reports Google Inc and Amazon are in talks to buy the data centre business of the company in a deal expected to fetch about Rs 4,261.40 crore to Rs 4,589.20 crore.

The share price of the company closed 3.91 per cent higher at Rs 418.10 on Friday. On BSE, 2.06 lakh shares were traded in the counter, compared with an average volume of 54,000 shares in the past two weeks.

According to reports, PE firms Blackstone Group, Carlyle, KKR , Bain Capital and Advent International are also looking to buy up to 74 per cent stake in the data centre unit.

Tata Communications, Bain, KKR, Carlyle declined to comment; Blackstone and Advent did not immediately respond to Reuters’ queries.

On a consolidated basis, Tata Communications reported net loss of Rs 33.86 crore in Q1 June 2015, higher than net loss of Rs 21.38 crore in Q1 June 2014.

(With inputs from Reuters)

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