New Delhi: Tata Teleservices while earmarking Rs 3,500 crore for expanding services in more towns across the country, said on Thursday it would hive off its cellular tower business in three months.
Tata Teleservices is in talks with six companies to operate its towers, CEO of the company Darryl Green told reporters in Mumbai.
The company, which offers CDMA services, has already invested Rs 1,000 crore in the tower business so far.
Green said the company would invest Rs 3,500 crore in 2007-08 for rolling out services in more towns as it plans to add 100 million subscribers by 2011 from the present 15.5 million.
Vodafone, the newest entrant in the Indian mobile space, and the market leader Bharti Airtel too have targeted addition of 100 million subscribers each.
With over seven million subscriber additions every month, India is the world's fastest growing mobile market.
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