Do More With Reuters
Partner Services

NTT DoCoMo set to buy 25 pct stake in Tata Tele-report

Wed Nov 12, 2008 5:33am IST
 
Email | Print | | Single Page
[-] Text [+]

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)

special coverage

Budget 2009
Budget 2009

The government presents the budget for the full fiscal year 2009/10 on July 6.  Full Coverage 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

SHOWCASE

Photo
Is the budget over-rated for personal finance?

Expectations are high given the outcome in the general elections.  Commentary 

 
Nilekani: Infosys' loss or govt’s gain?
Nilekani: Infosys' loss or govt’s gain?

Nandan Nilekani has resigned from the Infosys board to join the government.  Commentary | Slideshow 

 
Launched

Tata Motors announced the launch of Jaguar and Land Rover vehicles in India.  Slideshow | Video 

 
Satyam
The new Satyam

Stay updated with the developments at Satyam.  Full Coverage 

 
M&A Review
M&A Review

A review of mergers and acquisitions.  Full Coverage 

 
Financial Turmoil Timeline
Financial Turmoil Timeline

A round-up of measures taken by the U.S Federal Reserve since June 2007 to tackle the financial crisis.  Full Coverage