Tata Communications hits new 52-week high post acquiring stake in French company Oasis
Indian telecommunications company, Tata Communications announced that is has acquired a majority equity stake of 58.1 per cent in France-headquartered embedded-SIM (eSIM) technology provider, Oasis Smart SIM Europe SAS (Oasis). Reacting to the news, its share jumped approximately 8.7 per cent, creating a new 52-week high of Rs 1,139.95.
This acquisition fully integrates eSIM technology into Tata Communications’ MOVE, facilitating an end-to-end connectivity solution and also, strengthening Tata Communications’ MOVE as a single-source platform for global enterprise mobility needs.
Moreover, the company will provide an enhanced full-service enterprise mobility solution to customers through complete access and management of eSIM & software layer.
Tata Communications is engaged in services like transmission, IP, mobility, managed network connectivity, hosting & storage, etc. for the Indian consumers.
The company enjoys a 25 per cent market share in internet traffic flowing through Tata Communications’ cables. On the revenue front, it earns 65.8 per cent from its data & managed services, 31.9 per cent from voice services while 2.3 per cent from other services.
At the time of market closing on Thursday, the stock of Tata Communications Ltd was trading at Rs 1,068.45, up by 1.92 per cent on BSE.