wordpress blog stats
Connect with us

Hi, what are you looking for?

Tata Sons offers to buy Docomo stake at Rs 23 per share

Tata Sons has offered to buy Japanese telecom player NTT Docomo's stake in Tata Teleservices Limited for Rs 23.34 a share or at around Rs 11,000 crore, reports Business Standard. The report added that the offer was made on the basis of a fair market value determined on June 30, 2014. Earlier in March, the Reserve Bank of India (RBI) had rejected Tata Sons' offer n to buy back Docomo’s shares at the pre-agreed valuation of Rs 58 a share (~Rs 27,000 crore for the stake). In January, NTT Docomo had requested the London Court of International Arbitration to ensure that Tata Sons finds a suitable buyer for Docomo’s 26.5% stake in Tata Teleservices Limited (TTSL). The company said that it filed this arbitration request after Tata Sons failed to fulfil its obligation despite its repeated negotiations on the sale of its entire stake. In November 2008, Docomo had invested $2.2 billion in Tata Teleservices with an understanding that it would get at least 50 per cent of its acquisition price if it exits the Indian company in five years. However, the company's metrics continued to falter and it reported net losses of ¥85,026 million (Rs 4,887 crore) for the year ended March 31, 2014 (FY14), an increase from ¥72,301 million loss (Rs 4,155 crore) in the previous year FY13. It’s worth noting that TTSL is an unlisted company unlike its sister company Tata Teleservices Maharashtra Limited (TTML) which is listed on BSE. While TTML is operational only in Goa, Maharashtra and Mumbai circles, it, along with TTSL, provides mobile services under the Tata DOCOMO brand in the country. TTML reported losses…

Please subscribe/login to read the full story.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement

News

Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?

News

A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'

News

India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...

News

There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data

You May Also Like

News

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...

Advert

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...

News

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...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ