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Updated: NTT Docomo selling its 26.5% stake in Tata Teleservices by June 2014

Update: NTT Docomo has now officially announced that it is selling its entire stake comprising 1.25 billion shares (1,248,974,378 shares) which represents about 26.5% stake in the telco through the equity method. The company plans to exercise this option in or before June 2014, in case Tata Teleservices fails to achieve certain specified performance targets for the fiscal ended March 31, 2014.  The company has an an option to sell its stake for Rs 7,250 crore (about 50% of the acquisition price) or a fair market price, whichever is higher. It is however uncertain on how the option will be performed. Earlier: NTT Docomo is offloading its 26% stake in Tata Teleservices, the company's joint telecom venture with Tata Group, reports Nikkei Asia Review. It says that the company is in talks to sell its stake to Tata Group and exit India. We are currently awaiting a response from NTT Docomo & Tata Teleservices and will update the article once we hear back. Interestingly, a source-based The Economic Times report from earlier this month, had suggested that NTT Docomo was retaining its 26% stake in Tata Teleservices for at least another year. This extension had apparently been provided for the company to find a buyer and get a higher valuation for its holdings. This offloading has actually been doing the rounds since June 2013, when there were reports of NTT Docomo selling its stake to Sistema, however NTT Docomo had denied this a month later saying that it has no plans to sell its 26% stake and exit the market. This…

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