CCI approves acquisition of Tata Communications Limited by Panatone Finvest Limited

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..... CCI approves acquisition of Tata Communications Limited by Panatone Finvest Limited - News and Press Release Dated:- 23-2-2021 - News - The Competition Commission of India (CCI) approves acquisition by Panatone Finvest Limited ( Acquirer ) of Tata Communications Limited ( TCL ) under Section 31(1) of the Competition Act, 2002 , today. The Proposed Combination envisages the proposed acquisi .....

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..... tion 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 .....

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..... India 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 follo .....

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..... wing activities: (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. - News - Press re .....

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..... lease - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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