Tokyo, Nov 12, 2008 - (JCN Newswire) - NTT DOCOMO, INC. (DOCOMO), Tata Teleservices Limited (TTSL) and Tata Sons Limited, the prime promoter for Tata companies including TTSL, today announced their agreement on a strategic alliance in India, under which DOCOMO will acquire 26 percent of TTSL's common shares for approximately 130.7 billion Indian rupees (US$2.7 billion).
In addition, DOCOMO, in accordance with regulations of the Securities and Exchange Board of India*, expects to make an open offer to acquire up to 20 percent of the outstanding common shares of Tata Teleservices (Maharashtra) Limited (TTML), a Tata telecommunications company, through a joint tender offer with Tata Sons .
As a result of the capital alliance, the partners expect to expand mobile communication operations in the fast-growing Indian mobile market, aiming to increase operating revenue and achieve steady business growth.
TTSL, based in Mumbai, is a telecommunications business unit in Tata, India's largest conglomerate based on operating revenues (see attachment). The company covers nearly all of India with high-quality wireless networks and a large number of retail stores and customer-service outlets. TTSL has sharply increased its share of the fast-growing Indian mobile market, and it is rapidly expanding its subscriber base, which currently exceeds 30 million (including TTML subscribers).
Tokyo-based DOCOMO, the world's leading mobile operator, has played a major role in the evolution of mobile telecommunications through its development of cutting-edge mobile technologies and services. The company is a strong market leader used by more than 50 percent of Japan's mobile phone customers.
* Securities and Exchange Board of India Act, 1992: SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997
About Tata Sons Limited
Tata Sons is the prime promoter company for various businesses run under Tata brand. Tata companies in India constitute as the largest business conglomerate, with operations in over 80 countries across seven sectors (Materials, Engineering, Information Technology & Communications, Energy, Services, Chemicals and Consumer Products). The Conglomerate had aggregate revenues of around US $62.5 billion in the Financial Year 2007-08 and employs around 350,000 employees worldwide and has more than 3.2 million shareholders. Tata Companies are known for its community services and for the trust it commands from all stakeholders. For more information on the Group, please log on to www.tata.com.
About Tata Teleservices
Tata Teleservices is one of India's leading private telecom service providers. The company offers integrated telecom solutions to its customers under the Tata Indicom brand, and uses the latest CDMA 1X technology for its wireless network. Tata Teleservices, along with Tata Teleservices (Maharashtra) Ltd, operates in more than 6,700 towns across all 22 circles. Tata Teleservices has a customer base of over 30 million. For more information log on to: www.tataindicom.com.
About NTT DOCOMO
NTT DOCOMO is the world's leading mobile operator and provider of advanced mobile services. The company serves over 55 million customers in Japan, including 48 million using i-mode(TM), the world's most popular mobile e-mail/Internet platform, and 51 million using FOMA(TM), the world's original 3G mobile service based on W-CDMA. As a leader in the development of cutting-edge mobile technologies, DOCOMO is continually expanding the role of mobile phones as versatile and highly personalized "lifestyle tools" for everyday life, including with a wide range of innovative services for mobile payments, GPS, mobile TV, multimedia content and much more. NTT DOCOMO is listed on the Tokyo (9437), London (NDCM) and New York (DCM) stock exchanges. For more information, visit www.nttdocomo.com.
Contact:
NTT DOCOMO, INC.
International PR
Public Relations Department
Tel: 81-3-5156-1366
Fax: 81-3-5501-3408
website: http://www.nttdocomo.com
Nov 12, 2008
Source: NTT DOCOMO
NTT DOCOMO (TSE: 9437) (FTSE: NDCM) (U.S: DCM)
From the Japan Corporate News Network
http://www.japancorp.net
Topic: Press release summary
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