TTSL offloads stake to NTT DoCoMo
November 15, 2008
NTT DoCoMo, Tata Teleservices Limited (TTSL) and Tata Sons have entered into a strategic alliance under which DoCoMo will acquire 26 per cent of TTSL's stock for about Rs 130.70 billion.
Further, in accordance with the regulations of the Securities and Exchange Board of India (SEBI), DoCoMo expects to make an open offer to acquire up to 20 per cent of the equity shares of Tata Teleservices Maharashtra Limited through a joint tender offer along with Tata Sons.
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