Tata pays ₹50,000 crore dues to complete sale of mobile business to Airtel

July 08, 2019 11:13 pm | Updated 11:13 pm IST - MUMBAI

The Tata Group has paid about ₹50,000 crore to the lenders and the government to help complete the sale of its mobile telephony business to Sunil Bharti Mittal-led Bharti Airtel Ltd., a deal that was announced in October 2017.

“All debt obligations of TTSL have been repaid as per the schedule,” said a Tata group spokesperson without elaborating anything further.

Tata Sons, the holding company of the Tata Group, paid ₹10,000 crore to the Department of Telecommunications (DoT) and about ₹40,000 crore to the lenders of Tata Teleservices Limited (TTSL).

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