FRANKFURT, Mar 22 (Reuters) Tata Group conglomerate is in concrete talks about buying a stake in Deutsche Telekom's business unit, T-Systems, German business weekly Focus Online reported on Thursday.
Focus said Tata, which has made a series of foreign acquisitions in the past years, was examining T-Systems' books.
T-Systems, which has said recently it is looking for a strategic partner to strengthen its international business but is not up for sale, was not immediately available for comment.
A spokesman for Deutsche Telekom said the company did not comment on speculation.
Tata's products range from salt to software. Its IT arm, Tata Consultancy Services, is India's top software services exporter and made sales of 112.8 billion rupees ( billion) in its last financial year.
T-Systems is Deutsche Telekom's smallest unit with a staff of 56,000. It provides Internet and telecommunications services for businesses.
Last year it had revenues of 12.6 billion euros and an adjusted operating profit of 1.23 billion euros.
REUTERS DKS HT1938
Focus said Tata, which has made a series of foreign acquisitions in the past years, was examining T-Systems' books.
T-Systems, which has said recently it is looking for a strategic partner to strengthen its international business but is not up for sale, was not immediately available for comment.
A spokesman for Deutsche Telekom said the company did not comment on speculation.
Tata's products range from salt to software. Its IT arm, Tata Consultancy Services
T-Systems is Deutsche Telekom's smallest unit with a staff of 56,000. It provides Internet and telecommunications services for businesses.
Last year it had revenues of 12.6 billion euros and an adjusted operating profit of 1.23 billion euros.
REUTERS DKS HT1938
Oneindia Login