The center has sold 10% stake in Tata Communications

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New Delhi: The government on Friday announced its withdrawal from Tata Communications. The Center said it had pulled out of Tata Com by selling a 10 per cent stake in Panatone Finvest, a subsidiary of Tata Sons, through off-market trade. Prior to the trade, the government held a 26.12 per cent stake in Tata Communications, Panatone Finvest 34.80 per cent, Tata Sons 14.07 per cent and the remaining 25.1 per cent in the public. The government said it had sold 2.85 crore equity shares or 10 per cent stake in Tata Com on March 18 through off-market trading. The government had earlier sold 16.12 per cent stake in the company through an offer for sale.

center has sold 10% stake in Tata Communications

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