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Tata Sons says heard from NTT DoCoMo about sale option in Tata Tele
July 10, 2014 / 6:51 AM / 3 years ago

Tata Sons says heard from NTT DoCoMo about sale option in Tata Tele

July 10 (Reuters) - 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”.

Reporting by Nivedita Bhattacharjee in Mumbai; Editing by Prateek Chatterjee

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