Koor eyes stake in Tata TeleServicesIsraeli company Koor Industries has expressed interest in acquiring a minority stake in CDMA network operator Tata Teleservices. According to a statement by Koor filed with the Tel Aviv Stock Exchange, it has sent a non-binding letter of intent expressing its interest in investing USD577 million in Tata Teleservices. It acknowledged, however, that there was ‘no certainty’ a deal would be reached. Tata is reported to be aiming to raise over USD1 billion by selling up to 30% of the company to private equity firms and other investors. Tata had over 22.4 million wireless customers at the end of 2007.
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