VSNL informed the exchanges that it had executed a share purchase agreement with Tata Power and purchased 100 per cent shareholding in TPBB.
TPBB is engaged in business of providing services under its IP-I, IP-II and the ISP licenses issued by department of telecommunications and has fibre optic networkin Mumbai and Pune.
In September, VSNL had informed the Exchanges that it intended to acquire entire stake held by TPC in Tata Power Broadband Ltd, its 100 per cent subsidiary.