NTT DOCOMO, INC. (DOCOMO), Tata Teleservices Limited (TTSL) and Tata Sons Limited—the prime promoter for Tata companies including TTSL—today announced their agreement on a strategic alliance in India, under which DOCOMO will acquire 26 per cent of TTSL’s stock for approximately Rs 13,070 crore (US $2.7 billion).
In addition, DOCOMO, in accordance with regulations of the Securities and Exchange Board of India, expects to make an open offer to acquire up to 20% of outstanding equity shares of Tata Teleservices Maharashtra Limited (TTML), a Tata telecommunication company, through a joint tender offer along with Tata Sons.
