Tata TeleservicesBSE 0.53 % said it has not made any offer to sell its stake in American Tower Company (ATC) and any report on a deal being struck is “premature”.
The regulatory filing by the telecom operator comes in the wake of an ET report that said ATC has dismissed a request by Tata Teleservices to waive almost Rs 2,000 crore in early tenancy termination penalties- a development that may delay Bharti AirtelBSE -2.21 %’s takeover of the Tata Group’s wireless business.
“Parties are engaged in good faith discussions in relation to the future utilisation of the telecom towers. It is premature to comment at this stage about any discussions/negotiations. As of today, TTSL has not made an offer to sell its stake in ATC,” said Tata Teleservices Maharashtra(TTML)-the listed arm of Tata Teleservices, in a regulatory filing on Tuesday.
According to the ET report, TTSL may have to shell out as much as Rs 7,000 crore for prematurely winding up some 30,000 tenancies with ATC India and its unit Viom Networks following its decision to sell the wireless business to Sunil Mittal-led Bharti Airtel.
