SINGAPORE (May 19): ST Telemedia has agreed to buy a majority stake in some of the data-center business owned by India's Tata Communications for US$640 million ($882 million).

ST Telemedia, which is a unit of Temasek Holdings, will acquire a 74% stake in data centres in India and Singapore, while Tata Communications will hold the remaining 26% stake, said a joint statement from both companies on Thursday.

The acquisition will give ST Telemedia access to 14 data centres in key Indian cities including Delhi, Mumbai and Bangalore.

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