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Tuesday, January 06, 2015

NTT DoCoMo drags Tatas to court

Japanese telecom operators NTT DoCoMo has filled for arbitration against Tata Sons at a London court, alleging that the latter has failed to fulfill its obligation of finding a buyer for DoCoMo's 26 percent stake in Tata Teleservices Ltd ( TTSL ).
DoCoMo had in April last year announced its intention to exit the joint venture by selling its 26.5 percent stake. NTT DoCoMo also has an 11.76 percent stake in Tata Tel e services Maharashtra Ltd, which is a listed entity
Tata teleservices mobile user base increased 2 percent at end-october from a year ago to 64.78 million, lagging growth of 7 percent

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