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 DoCoMo to acquire 26% stake in Tata Teleservices

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PostSubject: DoCoMo to acquire 26% stake in Tata Teleservices   Thu Nov 13, 2008 8:44 pm

DoCoMo to acquire 26% stake in Tata Teleservices

Japan’s biggest mobile-phone operator, NTT DoCoMo Inc., plans to acquire stake in Tata Teleservices, according to a report. The terms of the deal were not known. However, according to the Nikkei Net Interactive Web site reports the company may buy 26% stake for US$2.7bn.

Earlier, in June, DoCoMo said it’s keen on investing in markets including Bangladesh, Vietnam, Cambodia, Laos and China because of low mobile-phone usage.

The money from the stake sale would help fund Tata Teleservices’s plans to invest in its networks before new competitors such as Russia’s Sistema JSFC expand, and Norway’s Telenor ASA and Emirates Telecom Corp. begin operating in India, the report stated.

Courtesy: http://www.indiainfoline.com/
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