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…
- The Fine Line: Regulating Real Money Gaming in India #QuickTake February 4, 2023
- Join the Club: Along with Telegram, WhatsApp Also Faces Copyright Infringement Cases at Delhi HC February 4, 2023
- Microsoft Teams Premium to incorporate ChatGPT: 4 key take aways February 3, 2023
- Update: Supreme Court Asks Indian Govt to Produce Records Issued To ‘Block’ BBC Documentary February 3, 2023
- RTI: Nearly 5,000 URLs blocked under Section 69A in the first 10 months of 2022 February 3, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.
The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...