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BRIEF-Tata Sons, Docomo reach deal in principle on payment of LCIA arbitration award
February 28, 2017 / 7:34 AM / 7 months ago

BRIEF-Tata Sons, Docomo reach deal in principle on payment of LCIA arbitration award

Feb 28 (Reuters) - Tata Sons:

* Tata sons and Docomo reach agreement in principle on payment of LCIA arbitration award

* Parties applied to Delhi high court, requesting that it accept their agreed terms of settlement, subject to such further orders as the court sees fit

* Docomo has agreed to suspend its related enforcement proceedings in the United Kingdom and the United States for a period of time

* Settlement terms clear way for $1.18 billion already deposited by co with Delhi high court to be paid to Docomo

* The board of Tata Sons has decided to withdraw its objections to the enforcement of the award in india

* Settlement terms would allow Docomo to transfer its shares in Tata Teleservices Limited Source text: bit.ly/2lOKoBC

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