Tata has sought approval from the Competition Commission of India to buy the 26.5% stake in Tata Teleservices Limited held by its Japanese partner DOCOMO, the Economic Times reports.
In its proposal to the antitrust watchdog, Tata claimed that the buyout would not affect the competitive landscape of India’s telecoms market. The announcement follows a ruling earlier this month from the Delhi High Court which rejected the previous objections from the Reserve Bank of India.
As noted by TeleGeography’s GlobalComms Database, DOCOMO sought to exit TTSL in early 2014 via its 2009 shareholding agreement, the terms of which stated that DOCOMO would be entitled to either 50% of its acquisition price or the fair market price of the shares, whichever is higher.
Full Content: The Hindu
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