Tata Communications tumbled 6.28% to Rs 1059 on reports that the government will sell its entire 26.12% stake in the company, erstwhile Videsh Sanchar Nigam (VSNL).According to the reports, the government will offload its stake in the ongoing financial year, through offer for sale and strategic sale routes. A part of the shareholding will be offered through OFS and the balance, including any leftover portion in the OFS, will be offered to strategic partner Panatone Finvest. The transaction is to be completed by 20 March 2021. Public sector VSNL was privatised in the year 2002 by disinvesting 25% shareholding along with transfer of management control to the strategic partner, Panatone Finvest. Following the strategic disinvestment, the name of the company was changed to Tata Communications.