DoCoMo to bid for Tata Teleservices (Maharashtra); Tata sets USD430m Asia-Pacific budget

12 Feb 2009

Reuters reports that NTT DoCoMo and Tata Sons will make a joint open offer for 20% of Tata Teleservices (Maharashtra) from 19 February. It has been delayed from 8 January as the companies were waiting for approval from the market regulator, Securities and Exchange Board of India. The offer follows DoCoMo’s move to buy a 26% stake in Tata Teleservices (TTSL), parent of Tata Teleservices (Maharashtra). The Japanese cellco is keen to tap into the fast growing Indian mobile market.

Meanwhile, in separate but related news, TTSL’s sister company, Tata Communications (formerly VSNL), said that it plans to spend USD430 million in Asia-Pacific as it seeks to boost its presence in emerging markets. CEO Narasimhan Srinath said that Tata Communications remained committed to its overall plan to invest USD1.5 billion over the next three years in developing markets, including Africa.