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Docomo to exit Indian market, sell TTSL stake
2014-04-25 09:21:00| Telecompaper Headlines
(Telecompaper) Japanese operator NTT Docomo has decided to sell its stake in Indian mobile operator Tata Teleservices. Docomo expects to be able to sell its 26.5 percent stake to India's Tata group, under an option in their original shareholders agreement from 2009. This requires Tata to buy the stake for 50 percent of the acquisition price (INR 72.5 billion) or a fair market price, whichever is higher, if Tata Teleservices fails to achieve certain performance targets by the end of its fiscal year in March 2014. Docomo said it intends to sell the stake in June if Tata's annual report shows it missed the targets.
Tags: market
sell
indian
exit
Category:Telecommunications