NTT DoCoMo set to buy 25 pct stake in Tata Tele-report
TOKYO, Nov 12 (Reuters) - Japanese mobile phone giant NTT DoCoMo Inc (9437.T: Quote, Profile, Research) has reached an agreement with Tata Teleservices (TTML.BO: Quote, Profile, Research) to buy an estimated 25 percent stake in the Indian carrier for $1.5 billion, Japan's Sankei newspaper reported on Wednesday.
The Sankei said the companies may announce the deal on Wednesday, but NTT DoCoMo said in a statement that it had not made any such decision.
Reuters sources said in September that NTT DoCoMo was in talks with Tata on investing more than 100 billion yen ($1 billion), aiming to build a foothold in the world's fastest-growing wireless market.
NTT DoCoMo is seeking to expand its overseas operations to offset slowing growth in Japan. (Reporting by Yumiko Nishitani)
© Thomson Reuters 2009 All rights reserved
Pledge to support economies
G20 financial leaders pledged to prepare strategies to end emergency support for their economies, but to keep the aid flowing until recovery was assured. Full Article | Related Story
Galleon case
U.S. insider trading probe widens
Fourteen people were charged with fraud and conspiracy in a dramatic widening of an insider trading scandal. Full Article
India
US
UK
