DOCOMO Completes Acquisition of Stake in Tata Teleservices Limited
Conditions Settled for TTML Tender Offer - Partnerships
TOKYO, JAPAN, NTT DOCOMO, INC. announced today that it has completed its plan to acquire 26 percent of the common shares of Tata Teleservices Limited (TTSL), in accordance with the capital-alliance agreement announced by the parties last November, for approximately 127.4 billion Indian rupees (JPY 250.0 billion). The acquisition included 20% newly issued shares and 6% shares purchased from shareholders.
DOCOMO also is preparing to acquire roughly 12 percent of the common shares of Tata Teleservices (Maharashtra) Limited (TTML) for about 5.7 billion Indian rupees (JPY 11.0 billion) through an open offer*, as the tender offer period ended on March 12.
Both TTSL and TTML are telecommunications units of Tata, India’s largest conglomerate based on operating revenues. The two companies together cover nearly all of India with high-quality wireless networks, as well as retail stores and customer-service outlets, and are building rapidly growing customer bases.
DOCOMO will nominate three executives to serve on TTSL’s board of directors and will work to increase the enterprise value of both TTSL and TTML while creating synergies with the companies through joint activities, including their Business & Technology Cooperation Committee.
*In accordance with the Substantial Acquisition of Shares and Takeovers Regulations, 1997 of the Securities and Exchange Board of India Act, 1992
NTT DOCOMO is the world’s leading mobile operator and provider of advanced mobile services. The company serves over 54 million customers in Japan, including 48 million using i-mode™ the world’s most popular mobile e-mail/Internet platform, and 48 million using FOMA™, 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.
FOMA and i-mode are trademarks or registered trademarks of NTT DOCOMO, INC. in Japan and other countries.
FOMA service is only available in Japan.
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