Tata Teleservices likely to shut down this month

The Tata group is preparing to shut down a large part of its telecom business and an announcement is likely later this month, according to industry sources. Senior executives at Mumbai-based Tata Teleservices, which operates wireless, wireline and broadband services, have already been told of the possible closure, it is learnt. Even subscribers are being informally told to migrate to other service providers through MNP (mobile number portability). 

A closure, the first under Tata Sons Chairman N Chandrasekaran, is being seen as part of a consolidation in the telecom sector. High debt and intense competition have made many businesses unfeasible,