NTT Docomo filed a case against Tata Sons due to failed in commitment to purchase its Rs. 7,250 Crores share in Tata Teleservices Ltd.
NTT Docomo holds 26.5 percent share holding in TTSL. In 2014, April NTT Docomo announced to sell its share in existing joint venture with Tata. Then Tata Sons agreed to buy the NTT Docomo's share in TTSL, but the deal was not concluded. Docomo announced it filed a case against the agreement between Tata Sons and NTT Docomo on January 3, 2015.
On July 7, 2014 NTT Docomo given an option to buy its TTSL shares for 50 percent of acquired price ( Rs. 7,250 crores), or fair market value, whichever is higher.
Tata Sons said that it is strictly stick to its agreements made with NTT Docomo, and also said that it made the necessary application to the Reserve Bank of India but awaiting for response.
Finally it said that its aim is to solve this problem with friendly manner.
NTT Docomo holds 26.5 percent share holding in TTSL. In 2014, April NTT Docomo announced to sell its share in existing joint venture with Tata. Then Tata Sons agreed to buy the NTT Docomo's share in TTSL, but the deal was not concluded. Docomo announced it filed a case against the agreement between Tata Sons and NTT Docomo on January 3, 2015.
On July 7, 2014 NTT Docomo given an option to buy its TTSL shares for 50 percent of acquired price ( Rs. 7,250 crores), or fair market value, whichever is higher.
Tata Sons said that it is strictly stick to its agreements made with NTT Docomo, and also said that it made the necessary application to the Reserve Bank of India but awaiting for response.
Finally it said that its aim is to solve this problem with friendly manner.