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Article: GTL sells IT services biz to France Telecom arm for Rs 150cr.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- July 11, 2007
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GTL sells IT services biz to France Telecom arm for Rs 150cr
Mumbai, July 11 (PTI) Network services provider GTL has sold its enterprise network services and managed services business to Orange Business Service, an arm of France Telecom, for about Rs 150 crore in cash.
"The hiving of the enterprise business is part of our efforts to focus on network services for telecom carriers," GTL Chairman and Managing Director Manoj Tirodkar told reporters here.
He said the revenues of the IT services business being hived off was Rs 140 crore last year and growing at about 30 per cent per year. GTL had sales turnover of Rs 1,150 crore last year.
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