Tata Sons, the holding company of the $105-billion Tata group, will pump Rs 30,000 crore more into its money-losing telecom company, Tata Teleservices, by way of quasi-equity and/or inter-corporate loan in the current financial year.
The additional funds will be used by Tata Teleservices to repay its Rs 31,000-crore debts and pay spectrum fees. Tata Teleservices had on October 12 agreed to merge its consumer mobile business with Bharti Airtel on a cash-free and debt-free basis. It was also considering merging its enterprise business with Tata Communications and the broadband and fixed-line retail business with Tata Sky, apart from retaining its