Tata Communications has received an approval for scheme of arrangement for transfer of its India Data Centre Business (IDC) to its wholly owned subsidiary - S&A Internet Services (SAISPL) after considering the recommendation of the Audit Committee. The board of company at its meeting held on March 01, 2013 has approved for the same.
The above scheme of transfer is possible only after receiving approvals of the shareholders and creditors of the Company and of SAISPL, Indian Stock Exchanges. SEBI, the High Court and any other regulatory approvals as may be required.
Tata Communications is a leading global provider of a new world of communications. With a leadership position in emerging markets, Tata Communications leverages its advanced solutions capabilities and domain expertise across its global and pan-India network to deliver managed solutions to multi-national enterprises, service providers and Indian consumers.
