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Tata Group to pay $1.17B in damages to NTT Docomo after RBI’s approval: report

Update (Feb 28): NTT Docomo said in a statement: "Full satisfaction of the award through the Delhi High Court's judgment will enable DOCOMO to consider reinvestment of an amount in India, under a new cooperative relationship with Tata Sons. DOCOMO believes that such relationship could become a paradigm for India-Japan economic ties." Tata Group, which jointly owns that Tata Docomo brand in India through a partnership with Japan’s NTT Docomo has agreed to pay $1.17 billion in damages to NTT Docomo over a legal arbitration case, reports Nikki Asian Review. Japan’s NTT Docomo holds a 26% stake in Tata Docomo in India along with Tata Teleservices (TTL). After the venture started posting continuous losses, TTL was ordered to pay $1.17 billion in damages to NTT by a London court in June last year. The terms of the agreement between both companies provide an option for the acquirer…

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