NTT DoCoMo mulling TTSL stake hike

20 Aug 2009

According to the Business Standard, Japan’s NTT DoCoMo will consider increasing its stake in Indian mobile operator Tata Teleservices from the 26% it currently has. Toshinari Kunieda, NTT’s senior vice-president, is quoted as saying; ‘We are comfortable with a 26% stake in Tata Teleservices (TTSL) currently. However, nobody knows the future. We might increase this (stake).’ NTT completed the acquisition of its existing holding in the cellco in March this year, paying USD2.7 billion for the stake; 20% of its stake came through the issue of new shares, with the remaining 6% from existing shareholders.

In addition the Japanese giant has also indicated that it expects the joint venture to start contributing to its own balance sheet within the next three years.

India, NTT DOCOMO, Tata Teleservices (TTSL, incl. TTML)