MUMBAI, JAN 27: The Tata group has reached an understanding with Bell Canada International to buy out the latter's 39 per cent stake in Tata Cellular, the cellular operator for the Andhra Pradesh circle. In the new shareholding structure, the Tatas will hold 90 per cent while AIG will continue to remain in the company with a 10 per cent stake.Although Bell Canada's investment in Tata Cellular has been around $48 million (Rs 210 crore), the buy-out is expected to cost the Tatas substantialy more.Tata Industries, the holding company for the group's new businesses, will pump in a major portion of the funds required for thedeal. Bell Canada's move is part of its broader strategy of concentrating in Latin America and exiting from its telecom interests in Asia. The Tatas, on the other hand, have identified telecom as a crucial focus area and plans to gradually increase their presence in all areas. It is learnt that the Tatas may look at the option of roping in another equity partner to replace Bell Canada ata later stage.
