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TMI BlogCCI approves acquisition of Tata Communications Limited by Panatone Finvest LimitedX X X X Extracts X X X X X X X X Extracts X X X X ..... CCI approves acquisition of Tata Communications Limited by Panatone Finvest Limited X X X X Extracts X X X X X X X X Extracts X X X X ..... of such shareholding not exceeding 26.12% by the Acquirer in the Target ("Proposed Combination"). As a result of the Proposed Combination, the Acquirer Group / Tata Group would increase its shareholding from 48.87% to such shareholding not exceeding 74.99%. The Acquirer is a Systemically Important Non-Deposit Taking Core Investment Company ("CIC-ND-SI") registered with the Reserved Bank of India ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and is a subsidiary of Tata Sons and belongs to the Tata Group. TCL is part of the Tata group and is a facilities-based service provider of a broad range of integrated communications services. It generates revenue from three business segments - wholesale voice, enterprise and carrier data and others. In India, TCL is, directly and indirectly through its subsidiaries, engaged in the following acti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vities:
(i) International Long-Distance services ("ILD") - voice;
(ii) National Long-Distance services ("NLD") - voice;
(iii) Undersea cable systems ("UCS");
(iv) Internet Service Provider ("ISP"), offering connectivity, messaging, Internet telephony; and
(v) Enterprise business providing valued added services
A detailed order of the CCI will follow. X X X X Extracts X X X X X X X X Extracts X X X X
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