Investment firm TPG Global led consortium is believed to have placed bid of about USD 1 billion for optical fibre asset of debt-ridden Tata Teleservices. "A consortium led by TPG Global has placed bid of about USD 1 billion for optical fibre asset of Tata Teleservices," an industry source, who did not wish to be identified said. When contacted Tata Sons spokesperson said: "We decline to comment on this story". TPG Global too declined to comment on the matter. Tata group has entered in to an agreement with Bharti Airtel to sell mobile business of Tata Teleservices, which has debt of around Rs 40,000 crore. Bharti Airtel will pay about Rs 8,000-9,000 crore of the total debt, which gets transferred to it as deferred payment liability for spectrum of Tata Teleservices. "The deal if goes through will be beneficial for TPG Global led consortium, given the length of optical fibre asset of TTSL, given the rising data demand in the country and regulatory plus cost issues that impede roll out of OFC in various states," the source said. Tata Teleservices had optical fibre transmission network about 1.28 lakh kilometers rolled out in the country. Industry estimate suggests cost of laying OFC (optical fibre cable) in the country has been as high as Rs 7 crore per kilometre.
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