$\"\"$ MUMBAI: Tata<\/a> Group companies and promoter Tata Sons have received the nod from Competition Commission of India (CCI<\/a>) to buy NTT Docomo<\/a>'s 21.6% stake in Tata Teleservices<\/a>. Besides Tata Sons, the group companies include Tata Steel, Tata Industries, Tata Communications and Tata Power.
\n
\nIn its proposal sent couple of weeks back, the group companies said the buyout will not affect or change the competitive landscape of telecommunications market in India.
\n
\nThe application comes less than a month after Delhi High Court allowed Tata Sons to pay NTT Docomo a $1.18 billion arbitration award upon termination of their telecom joint venture, likely ending a prolonged corporate battle that had cast a shadow on Indo-Japanese economic ties.
\n
\nDocomo has been fighting Tata Sons over the right to sell its stake in the Indian wireless venture for at least half the original value, as per the terms of the 2009 agreement. In April 2014, Docomo decided to sell its entire 26.5% stake in Tata Teleservices and withdraw from mobile telephony in India.
\n
\nUnder the agreement, Docomo had the right to sell its stake at a fair market price or 50% of the acquired price, amounting to Rs 7,250 crore, whichever was higher. But the Tatas couldn’t find a buyer and said they couldn’t pay the Japanese company due to RBI rules.
\n
\nDocomo initiated arbitration proceedings in January 2015 against Tata Sons in the London Court of International Arbitration, which directed the Indian company to pay $1.17 billion to the Japanese company as compensation for breaching the shareholder agreement.
\n
\nThe Tatas have consistently maintained they were willing to pay the award, but Indian rules prohibited it on the grounds that valuation must be based on present fair value. Sale of shares at a pre-determined price, as laid down in the Tata-Docomo agreement, violated foreign exchange norms.
\n
\nLast year, Docomo moved the Delhi High Court to enforce the arbitral award. In February this year, after the new chairman of Tata Sons took over, both companies reached a settlement and sought the court’s permission to transfer funds. <\/body>","next_sibling":[{"msid":58844045,"title":"Telecom minister downplays job loss threat, says unrest to settle in 2 years","entity_type":"ARTICLE","link":"\/news\/telecom-minister-downplays-job-loss-threat-says-unrest-to-settle-in-2-years\/58844045","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":58844100,"entity_type":"ARTICLE","title":"Tata gets CCI go ahead to buy DoComo stake in Tata Teleservices","synopsis":"In its proposal sent couple of weeks back, the group companies said the buyout will not affect or change the competitive landscape of telecommunications market in India.","titleseo":"telecomnews\/cci-clears-tatas-buy-of-docomo-stake-in-tata-tele","status":"ACTIVE","authors":[{"author_name":"Devina Sengupta","author_link":"\/author\/479212895\/devina-sengupta","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479212895.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":false,"msid":479212895,"author_name":"Devina Sengupta","author_seo_name":"devina-sengupta","designation":"Senior Assistant Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2017-05-25 20:24:36","lastupd":"2017-05-25 20:28:40","breadcrumbTags":["Docomo","Tata Teleservices","Tata","industry","CCI"],"secinfo":{"seolocation":"telecomnews\/cci-clears-tatas-buy-of-docomo-stake-in-tata-tele"}}" data-authors="[" devina sengupta"]" data-category-name="" data-category_id="" data-date="2017-05-25" data-index="article_1">

Telecom乐动扑克News

塔塔被CCI继续购买塔塔电信业务DoComo的股份

在其提议派几个星期后,集团公司表示,收购不会影响或改变在印度电信市场的竞争格局。

Devina森古普塔,
等局

更新2017年5月25日08:28点坚持

孟买:塔塔集团公司和塔塔子的儿子已经收到了点头从印度竞争委员会(CCI)购买日本电报电话公司Docomo21.6%的股份塔塔电信业务。除了Tata Sons,集团公司包括塔塔钢铁公司、塔塔工业,塔塔塔塔通信和力量。

在其提议派几个星期后,集团公司表示,收购不会影响或改变在印度电信市场的竞争格局。

应用不到一个月前,德里高等法院允许Tata Sons NTT Docomo支付11.8亿美元的仲裁裁决终止他们的电信合资企业,可能结束漫长的企业纠纷Indo-Japanese经济关系上投下了阴影。

Tata Sons Docomo已经战斗在印度出售其股份的权利无线风险至少一半的原始值,按2009年协议的条款。2014年4月,Docomo决定出售其整个塔塔电信业务26.5%的股权,退出在印度移动电话。

根据协议,Docomo有权出售其股份以公平的市场价格或收购价格的50%,达到7250卢比,哪个更高。但是再见找不到买家,说他们不能支付日本公司由于央行的规则。

Docomo提请仲裁对塔塔的儿子在2015年1月在伦敦国际仲裁法庭,这导演印度公司向日本公司支付11.7亿美元作为赔偿违反股东协议。

再见一直保持他们愿意支付这个奖项,但印度规则禁止它,因为估值必须基于公允价值。以预先确定的价格出售股票,放下Tata-Docomo协议,违反了外汇规范。

去年,Docomo搬到德里高等法院强制执行仲裁裁决。今年2月,塔塔的新主席儿子接管之后,这两家公司达成和解,寻求法院的权限转移资金。

发布于2017年5月25日08:24点坚持

$\"\"$ MUMBAI: Tata<\/a> Group companies and promoter Tata Sons have received the nod from Competition Commission of India (CCI<\/a>) to buy NTT Docomo<\/a>'s 21.6% stake in Tata Teleservices<\/a>. Besides Tata Sons, the group companies include Tata Steel, Tata Industries, Tata Communications and Tata Power.
\n
\nIn its proposal sent couple of weeks back, the group companies said the buyout will not affect or change the competitive landscape of telecommunications market in India.
\n
\nThe application comes less than a month after Delhi High Court allowed Tata Sons to pay NTT Docomo a $1.18 billion arbitration award upon termination of their telecom joint venture, likely ending a prolonged corporate battle that had cast a shadow on Indo-Japanese economic ties.
\n
\nDocomo has been fighting Tata Sons over the right to sell its stake in the Indian wireless venture for at least half the original value, as per the terms of the 2009 agreement. In April 2014, Docomo decided to sell its entire 26.5% stake in Tata Teleservices and withdraw from mobile telephony in India.
\n
\nUnder the agreement, Docomo had the right to sell its stake at a fair market price or 50% of the acquired price, amounting to Rs 7,250 crore, whichever was higher. But the Tatas couldn’t find a buyer and said they couldn’t pay the Japanese company due to RBI rules.
\n
\nDocomo initiated arbitration proceedings in January 2015 against Tata Sons in the London Court of International Arbitration, which directed the Indian company to pay $1.17 billion to the Japanese company as compensation for breaching the shareholder agreement.
\n
\nThe Tatas have consistently maintained they were willing to pay the award, but Indian rules prohibited it on the grounds that valuation must be based on present fair value. Sale of shares at a pre-determined price, as laid down in the Tata-Docomo agreement, violated foreign exchange norms.
\n
\nLast year, Docomo moved the Delhi High Court to enforce the arbitral award. In February this year, after the new chairman of Tata Sons took over, both companies reached a settlement and sought the court’s permission to transfer funds. <\/body>","next_sibling":[{"msid":58844045,"title":"Telecom minister downplays job loss threat, says unrest to settle in 2 years","entity_type":"ARTICLE","link":"\/news\/telecom-minister-downplays-job-loss-threat-says-unrest-to-settle-in-2-years\/58844045","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":58844100,"entity_type":"ARTICLE","title":"Tata gets CCI go ahead to buy DoComo stake in Tata Teleservices","synopsis":"In its proposal sent couple of weeks back, the group companies said the buyout will not affect or change the competitive landscape of telecommunications market in India.","titleseo":"telecomnews\/cci-clears-tatas-buy-of-docomo-stake-in-tata-tele","status":"ACTIVE","authors":[{"author_name":"Devina Sengupta","author_link":"\/author\/479212895\/devina-sengupta","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479212895.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":false,"msid":479212895,"author_name":"Devina Sengupta","author_seo_name":"devina-sengupta","designation":"Senior Assistant Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2017-05-25 20:24:36","lastupd":"2017-05-25 20:28:40","breadcrumbTags":["Docomo","Tata Teleservices","Tata","industry","CCI"],"secinfo":{"seolocation":"telecomnews\/cci-clears-tatas-buy-of-docomo-stake-in-tata-tele"}}" data-news_link="//www.iser-br.com/news/cci-clears-tatas-buy-of-docomo-stake-in-tata-tele/58844100">

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