NTT DoCoMo takes 26% in Tata Tele for $2.7 bn

Corporate Bureau
Posted: Thursday, Nov 13, 2008 at 0206 hrs IST
Updated: Thursday, Nov 13, 2008 at 0206 hrs IST

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Mumbai/New Delhi, Nov 12: to bid for the government’s auction of 3G licenses with services expected to roll out by the middle of next year. NTT DoCoMo is the world’s most successful 3G operator, providing services on W-CDMA technology, and its strengths lie in value-added services and content applications. The company completely revolutionised data application on mobiles in Japan. Analysts said neither Bharti nor Vodafone have such expertise.

TTML’s net loss for the second quarter ended September 30 stood at Rs 47.35 crore. The company’s shares were up 7.60% to close at Rs 17.99 on the BSE on Wednesday.

A company release stated, “As a result of the capital alliance, the partners expect to expand mobile communication operations in the fast-growing Indian mobile market, aiming to increase operating revenue and achieve steady business growth.”

NTT DoCoMo has been trying to enter the Indian market for some time. TTSL has also been trying to sell part of its stake for a while and it was in talks with South Korea Telecom two years ago, but the talks collapsed over a disagreement on price. ...

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