ntt-docomo-buys-tata-teleservices-stake

NTT DoCoMo buys Tata Teleservices stake

The Japanese mobile operator pays $2.7 billion for a 26% stake in India's Tata Teleservices and gains a foothold in a high-growth telecoms market.
JapanÆs NTT DoCoMo will acquire a 26% stake in Tata Teleservices for around Rs130.7 billion $2.7 billion, according to a joint announcement yesterday.

DoCoMo will also, along with Tata Sons, make a tender offer to buy 20% of the outstanding shares of Tata Teleservices Maharashtra, a subsidiary of Tata Teleservices, in accordance with guidelines set out by market regulator the Securities and Exchange Board of India. No financial details of the offer were disclosed.

The firms also did not clarify how the Rs130.7 billion investment will be executed but analysts expect it will be through a combination of a sell-down of existing shares by Tata Sons, the Tata Teleservices...
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