Tata Group companies and promoter Tata Sons have received the nod from Competition Commission of India to buy NTT Docomo’s 21.6% stake in Tata Teleservices. Besides Tata Sons, the group companies include Tata Steel, Tata Industries, Tata Communications and Tata Power.
In its proposal sent couple of weeks back, the group companies said the buyout will not affect or change the competitive landscape of telecommunications market in India.
The application comes less than a month after Delhi High Court allowed Tata Sons to pay NTT Docomo a $1.18 billion arbitration award upon termination of their telecom joint venture, likely ending a prolonged corporate battle that had cast a shadow on Indo-Japanese economic ties.
Full Content: NDTV Profit
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