Friday, 21 August 2015

Tata Comm up 3.5%, Google & Amazon in race to buy data biz

Shares of Tata Communications  outperformed the equity market on Friday, rising 3.5 percent intraday. 
A media report suggested that the two big multinational companies are in race to buy the telecommunications and internet service provider's data centre business.
"Search engine giant Google Inc and ecommerce behemoth Amazon are among those in talks with the Tata Group to buy the data centre business of Tata Communications in a deal expected to fetch about Rs 4,261.4 crore to Rs 4,589.2 crore ($650-700 million)," said a media report. "
nglomerate is likely to retain a minority stake," the report added.

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