Telenor wants to buy NTT Docomo’s 26% stake in TTSL

Telecom service provider Telenor is looking at acquiring NTT Docomo’s 26 percent stake in Tata Teleservices (TTSL).

Hindu Business Line reported that the two companies have met several times for exploring options.

Their discussions in 2012 did not materialize due to uncertainty over spectrum pricing and merger and acquisition norms.

Telenor Capex

NTT Docomo, which is looking at exploring arbitration to prompt the Tatas to buy back its 26.5 percent stake, has already decided to exit from the loss making TTSL. TTSL’s losses crossed Rs 6,000, according to reports.

The Japanese company had acquired the equity stake in March 2009 for $2.7 billion. According to their deal, if Japanese company fails to find a buyer for the shares, the Tata Group will have to buy them from Docomo.

Docomo is entitled to get 50 percent of the acquisition price or Rs 7,250 crore for the entire stake from Tata Teleservices.

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