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Mergers & Acquisitions | 13 December 2011

Promoters To Sell Stake In Viom Network

by Charmi Gutka
Promoters To Sell Stake In Viom Network
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Tata Teleservices and SREI group are planning to sell their stake in JV – Viom Networks and are in talks with Sumitomo Corporation of Japan and private equity company TPG Partners.

In Sept,the company ran into controversy over charges of financial irregularities after a former company secretary alleged that the Kanorias of the Srei Group diverted funds to the tune of R300Cr to some private institutions.

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