Tata Sons gets formal communication from NTT DoCoMo on exit from Tata Teleservices

Jul 10 2014, 15:15 IST
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NTT DoCoMo had said it would exercise the option to sell its 26.5 per cent stake in Tata DoCoMo. NTT DoCoMo had said it would exercise the option to sell its 26.5 per cent stake in Tata DoCoMo.
SummaryNTT DoCoMo had said in April it would exercise the option to sell its 26.5 percent stake in Tata Teleservices by June.

Tata Sons has received formal communication from Japan's NTT DoCoMo Inc about exercising its sale option in Tata Teleservices Ltd, a company spokeswoman said.

NTT DoCoMo had said in April it would exercise the option to sell its 26.5 percent stake in Tata Teleservices by June if the Indian mobile phone joint venture failed to achieve performance targets.

Tata Sons had said in April it was not "possible to predict how events will unfold; however, Tata Sons is cognizant of its responsibilities, and will act keeping in mind the interests of all stakeholders and in accordance with law".

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