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NTT Docomo files Intl arbitration charges over Tata Tele’s stake sale

NTT Docomo has requested the London Court of International Arbitration to ensure that Tata Sons find a suitable buyer for Docomo's 26.5% stake in Tata Teleservices Limited (TTSL). The company said that it filed this arbitration request on January 3, after Tata Sons failed to fulfill its obligation, despite its repeated negotiations on the sale of its entire stake. Docomo spokesman Shunsuke Muraki told Reuters that it had given 90 days to Tata Sons in July 2014, to find a suitable buyer to purchase its stake for Rs 7,250 crore (about 50% of the acquisition price) or a fair market price, whichever is higher. However, the company was unable to find a buyer by December 3, which led to this arbitration request. He added that if the agreement is not followed through, they might even consider foreclosure. It's worth noting that Docomo had earlier hinted at exercising the International arbitration option to put pressure on the Tatas to buy back its 26.5% stake in Tata Teleservices. Tata struggling to find a buyer? It seems like Tata is struggling to find buyers for the loss-making Tata Teleservices. Last week, The Hindu Business Line reported that Tata had restarted acquisition talks with Telenor, although the company clarified to BSE that this is a speculation and said "we are not in possession of any unpublished price sensitive information that is required to be intimated to the Exchanges in terms of the Listing Agreement". Prior to this, South African telecom major MTN Group was reportedly in talks to acquire Tata Teleservices (TTSL) and Tata Teleservices Maharashtra (TTML). Vodafone…

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