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Temasek Acquires 9.9% Stake in Tata Tele for USD 300 mln

Temasek Holdings Pte Ltd, through its wholly owned subsidiary Aranda Investments (Mauritius) Pte Ltd, has acquired a 9.9 per cent equity stake in Tata Teleservices Ltd. A source close to the transaction told Reuters that Temasek has paid USD 330 million for a 9.9 percent stake in Indian CDMA operator Tata Teleservices Ltd.

"We are excited about India's growth prospects, and the telecom industry provides us with an attractive opportunity to participate in this fast-growing market," Manish Kejriwal, Managing Director of Temasek's India office, said in a statement.

Ranked sixth in India in terms of mobile users, Tata Teleservices offers wireless and fixed-line services based on CDMA technology in 20 of the 23 telecoms zones in India.


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