ST Telemedia to Buy Majority Stake in Tata Communications’ India, Singapore Data-Center Business

IndiaWall Street journal — SINGAPORE—Singapore Technologies Telemedia has agreed to buy a majority stake in some of the data-center business owned by India’s Tata Communications Ltd., valuing the entire business at about US$640 million. ST Telemedia, which is a unit of Singapore state-investment firm Temasek Holdings (Private) Ltd., will acquire a 74% stake in data centers in India and Singapore, while Tata Communications will hold the remaining 26% stake, a joint statement from both the companies said Thursday.

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