Tata Sons picks up 43.35% in Tejas Networks, reboots 5G plans

Tata Sons picks up 43.35% in Tejas Networks, reboots 5G plans
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Last Updated: Jul 30, 2021, 06:45 AM IST
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Synopsis
Tata Sons plans to acquire 63.1% stake Tejas Networks, Bengaluru-based telecom product major, that will help it gain access to crucial technology for 5G and 4G telecom gear.
Tata Sons will acquire a controlling stake in telecom equipment maker
Tejas Networks to help it access 5G technology and take on the likes of Ericsson, Nokia and Huawei in tapping capital investments made by India and the rest of world as they adopt the next-generation communications system.
Tata Sons unit Panatone Finvest Ltd has signed a binding agreement to acquire 43.35% of Tejas through preferential issues of equity and warrants for Rs 1,850 crore. This will trigger an open offer for a further 26% stake in the company from the public, the two companies said in a joint statement on Thursday.

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