Mergers and Acquistions News
Categories: Telecoms
November 17th 2008, 16:04PM
NTT Docomo, the largest mobile phone company in Japan, has agreed a $2.7 billion (£1.8 billion) strategic alliance with Tata Teleservices.
The deal sees the Japanese firm acquire a 26 per cent stake in the sixth biggest Indian carrier.
Additionally, NTT Docomo expects to make an open offer for up to 20 per cent of Tata Teleservices through a joint venture with Tata Sons.
The capital alliance should allow both companies to expand mobile communications operations in what they dubbed the "fast-growing" Indian market.
According to the Japanese firm, it already has 53 million customers worldwide, while the Tata conglomerate had a total revenue of around $62.5 billion in the last financial year.
The Indian firm points out that this makes it the largest such firm in the country.
Meanwhile, Reuters reports that Emirates Telecommunications has $3 billion in reserve and is considering using this for takeovers.
The company is currently looking at market conditions before making a move, it stated.
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