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Tata Comm gains nearly 3% on talk of sale of data centre biz

By Religare
|

Shares of Tata Communication rose nearly 3 per cent on Bombay Stock Exchange (BSE) on reports stating that two gigantic global firms Google Inc and Amazon are planning to bid for acquiring the telecom and internet service provider's data centre business. The report said that the search engine giant Google Inc and ecommerce behemoth Amazon are in talks with the Tata Group to purchase the data centre business of Tata Communications in a deal that is expected to fetch the company approximately Rs 4,261.4 crore-Rs 4,589.2 crore ($650-700 million).

 

Reacting to the news, shares of company surged 2.65 per cent in intra-day trade to Rs 413 apiece on the BSE.

In a similar trend, shares of the company gained 2.51 per cent to Rs 412.80 a piece on National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 27,242.89, down 364.93 points, or 1.32 per cent at 11.30 hours.

Story first published: Friday, August 21, 2015, 12:20 [IST]
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