Friday, Oct 31, 2014

NTT DoCoMo to exit India, unload entire stake in Tata Teleservices: Report

NTT DoCoMo, Japan's top operator of mobile phone services, invested 266.7 billion yen in Tata Teleservices in 2009. (Reuters) NTT DoCoMo, Japan's top operator of mobile phone services, invested 266.7 billion yen in Tata Teleservices in 2009. (Reuters)
Reuters | Tokyo | Posted: April 25, 2014 9:52 am

Japan’s NTT DoCoMo Inc will unload its 26.5 per cent stake in loss-making Indian mobile phone joint venture Tata Teleservices and exit the country as it struggles with tough price competition, sources familiar with the matter said on Friday. NTT DoCoMo will make a formal decision at a board meeting on Friday, the sources said.

An NTT DoCoMo spokesman said the company was considering various options for its overseas operations but that nothing had been decided.

Japan’s top operator of mobile phone services is expected to book about 80 billion yen ($780 million) in related losses in the financial year ended on March 31, results of which are due to be announced at 3 p.m. (0600 GMT), the sources said.

NTT DoCoMo invested 266.7 billion yen in Tata Teleservices in 2009. The company ranks seventh in India with 63 million subscribers as of the end of March.

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