Tata Comm gains 4% as co explore options for data centre biz

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Tata Communications’ scrip rose by almost 4 per cent today after the company said it is exploring various options for its data centre infrastructure business in India and Singapore.

The stock climbed 3.91 per cent to settle at Rs 418.10 on BSE. During the day, it gained 4.15 per cent to Rs 419.05.

At NSE, shares of the company rose by 3.83 per cent to Rs 418.15.

The company was asked by BSE to clarify on reports that Google, Amazon are in fray to buy its data centre business.

In its reply, Tata Communication said, “The company confirms it is exploring various strategic options for its data centre infrastructure business in India and potentially Singapore.”

The company said, it has retained Jefferies LLC to advice it in connection with exploring these strategic alternatives.

“No assurance can be given that the company will determine to pursue a potential sale or enter into any definitive agreement,” it added.

Source:http://www.business-standard.com/

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