Tata view of sell-offs unchanged

KOLKATA: Notwithstanding its recent stand-off with the government over VSNL investment plans, the Tata Group on Saturday said it would continue to look at the Centre''s future disinvestment plans.
"Tata Group will continue to look at disinvestments in exactly the same way we have looked at it in recent times", R Gopalakrishnan, executive director, Tata Sons said here on Saturday.
Scotching rumours that Tatas might try to get out of VSNL, one of its most publicised takeovers through the government''s disinvestment plan, the Tata Sons ED said, "I cannot say that because of VSNL, Tatas will stop looking at the divestment process."
Tata had a bitter stand-off with Union Information and Technology minister Pramod Mahajan barely four months ago over VSNL''s decision to invest Rs 1,200 crore in Tata Teleservices Ltd.
Gopalakrishnan, asserted on Saturday that the group was ''comfortable'' with VSNL and emphasised that telecom continued to be one of the thrust areas for future growth of the Tata Group.
The crisis took place only two months after the government divested 25 per cent of its stake in the company to the Tatas.
The decision by the VSNL board to make a large investment in Tata Teleservices, another group company in the telecom sector, evoked strong reaction from Mahajan.
The matter was finally resolved after Deputy Prime Minister LK Advani intevened and the decision of the VSNL board was referred to a sub-committee for review.