DoCoMo plan to put $1 bln more in Tata Tele
12-08-2010
Stamp of approval for Tata Tele growth, tariff strategies
Japan's NTT DoCoMo had inserted strict performance clauses in its initial partnership documents with Tata Teleservices. Looks like the Tata performance has passed the test.
The news now is that DoCoMo will likely invest an additional $1 billion in Tata Teleservices, according to Economic Times newspaper. This will lift its stake to 35-40 percent from 26 percent, the paper said, citing two people familiar with the deal. The deal is expected to close in a few months, although not all the funds may go to unlisted Tata Teleservices. Tata Tele has a listed unit, Tata Teleservices (Maharashtra)
Tata Teleservices had 72.5 million mobile subscribers as of end-June, according to data from India's telecom regulator, and a company executive said this month that it had added another 2.5 million users in July.
Subscriber growth has been fueled by its per-second billing system it launched in mid-2009, which also led rivals to start similar bill plans.
Japan's NTT DoCoMo had inserted strict performance clauses in its initial partnership documents with Tata Teleservices. Looks like the Tata performance has passed the test.
The news now is that DoCoMo will likely invest an additional $1 billion in Tata Teleservices, according to Economic Times newspaper. This will lift its stake to 35-40 percent from 26 percent, the paper said, citing two people familiar with the deal. The deal is expected to close in a few months, although not all the funds may go to unlisted Tata Teleservices. Tata Tele has a listed unit, Tata Teleservices (Maharashtra)
Tata Teleservices had 72.5 million mobile subscribers as of end-June, according to data from India's telecom regulator, and a company executive said this month that it had added another 2.5 million users in July.
Subscriber growth has been fueled by its per-second billing system it launched in mid-2009, which also led rivals to start similar bill plans.
