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By Andy Mukherjee<\/strong>
\n
\nTwo Indian businessmen went to war. A Japanese company won the spoils. Shareholders can't stop cheering.
\n
The bounty in question is a $1.17 billion payment from Tata Group<\/a> to NTT Docomo Inc., its partner in a struggling wireless carrier. Tata Teleservices Maharashtra<\/a> Ltd., the venture's publicly traded unit, rose more than 19 percent on Tuesday in Mumbai.
\n
Making Docomo run from pillar to post for the money was widely believed to be one of the reasons scion Ratan Tata<\/a> lost faith in his successor Cyrus Mistry<\/a>, and ousted him as chairman of the salt-to-software group's holding company in October. The bitter PR and legal<\/a> battle that ensued is only now starting to wind down.
\n\"\"
\n
\nWith Mistry out of the picture, the Indian company has finally decided to bury the hatchet. Or at least that's what it told a Delhi court on Tuesday.
\n
\nPaying the Japanese telco was important. It was needed both to shore up the Indian group's reputation for fair play and to burnish Ratan Tata<\/a>'s image, which has been badly dented by the allegations of backseat driving and bad judgment hurled at him by a spurned Mistry.
\n
At its core, the Tata-Docomo dispute was simple enough. Ratan Tata had persuaded Docomo to invest 145 billion rupees ($2.2 billion) in Tata Teleservices<\/a> in 2009 by promising that if things didn't work out in five years, the Indian conglomerate would either find a buyer for the Japanese company's 26.5 percent stake, or take over those shares<\/a> at half the original value of the investment.
\n
\nBut when Docomo exercised its option in 2014, Tata Group<\/a> was unable to find a buyer and seemed disinclined to purchase the Japanese stake. Mistry, who assumed the leadership in December 2012, took the position that the original agreement was legally untenable. He wanted to pay, he said, but couldn't because Indian law wouldn't let him. A livid Docomo dragged its partner to an arbitration court in London, where it won a $1.17 billion award. Once again, the Tata Group said paying the compensation would violate India's foreign-exchange rules.
\n
\n\"\"
\n
\nWith Ratan Tata dropping all objections to paying, the bickering may have ended. However, Docomo's check isn't exactly in the mail yet. There could be further complications if a court in Delhi agrees to make the Indian central bank a party to the dispute. Still, with its intent to pay now established, the Tata Group needs to take the necessary next step and exit telecom.
\n
Tata Docomo, as the service is known, can't go on much longer as an independent operator. Market leader<\/a> Bharti Airtel Ltd. just scooped up departing Norwegian carrier Telenor<\/a> ASA's Indian unit to fight billionaire Mukesh Ambani's low-priced 4G service, Reliance Jio<\/a>, in which he's already invested $25 billion.
\n
Vodafone Group Plc, which is merging its Indian unit with smaller rival Idea Cellular Ltd., was a suitor for Tata Teleservices<\/a> last year. But as the Economic Times reported last week, a more likely beau now may be Reliance Communications Ltd., which is controlled by Anil Ambani<\/a>, Mukesh's younger brother.
\n
\nExiting telecom would allow Tata, a $103 billion conglomerate, to push more capital into other, more lucrative businesses. Tuesday's jump in Tata Teleservices shares<\/a> clearly shows that investors may be viewing the Japanese settlement as a precursor to a sale. With Docomo placated, that would be the logical thing to do.
\n
\n*This column does not necessarily reflect the opinion of Bloomberg LP and its owners.<\/em>\n\n<\/body>","next_sibling":[{"msid":57411485,"title":"Airtel, Nokia join hands to create strategic roadmap for 5G, IoT","entity_type":"ARTICLE","link":"\/news\/airtel-nokia-join-hands-to-create-strategic-roadmap-for-5g-iot\/57411485","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":57411675,"entity_type":"ARTICLE","title":"View: Tata must exit telecom after burying hatchet with Docomo","synopsis":"With Mistry out of the picture, the Indian company has finally decided to bury the hatchet. Or at least that's what it told a Delhi court on Tuesday.","titleseo":"telecomnews\/view-tata-must-exit-telecom-after-burying-hatchet-with-docomo","status":"ACTIVE","authors":[],"Alttitle":{"minfo":""},"artag":"Bloomberg","artdate":"2017-03-01 17:21:59","lastupd":"2017-03-01 17:25:57","breadcrumbTags":["Anil Ambani","Maharashtra","industry","Shares","Tata Group","Legal","Telenor","Tata Teleservices Maharashtra","market leader","Reliance Jio","ratan tata","Tata Teleservices","Cyrus Mistry"],"secinfo":{"seolocation":"telecomnews\/view-tata-must-exit-telecom-after-burying-hatchet-with-docomo"}}" data-authors="[" "]" data-category-name="" data-category_id="" data-date="2017-03-01" data-index="article_1">

观点:塔塔电信与Docomo埋葬短柄小斧后必须退出

Mistry不相干的,印度公司终于决定停战。或者至少它告诉德里法院周二。

  • 2017年3月1日更新是05:25点
由安迪•穆克吉

两名印度商人开战。一家日本公司赢得了战利品。股东不能停止欢呼。

问题的赏金是11.7亿美元的付款塔塔集团NTT Docomo Inc .,在苦苦挣扎的无线运营商合作伙伴。塔塔电信业务马哈拉施特拉邦有限公司,合资公司的上市子公司,在孟买周二上涨逾19%。

Docomo运行四处赚钱被广泛认为是接穗的原因之一拉丹·塔塔对他的继任者失去信心塞勒斯Mistry主席的,被他在10月份salt-to-software集团的控股公司。的公关和法律随之而来的战斗现在才开始下降。


Mistry不相干的,印度公司终于决定停战。或者至少它告诉德里法院周二。

日本电信支付很重要。它需要支持印度集团的声誉为公平竞争和光泽拉丹·塔塔的形象,已严重影响了后座驾驶的指控和错误判断拒绝Mistry扔向他。

在其核心,Tata-Docomo争端是很简单。Ratan Tata有说服Docomo投资1450亿卢比(22亿美元)塔塔电信业务在2009年承诺,如果事情没有在过去5年中,印度企业集团要么找到一个买家对日本公司的26.5%的股份,或接管股票一半的原始价值投资。

但当Docomo行使其选择在2014年,塔塔集团无法找到一个买家,似乎不愿购买日本的股份。Mistry以为领导在2012年12月,原协议的法律上站不住脚。他说他想支付,但不能因为印度法律不让他。一个青灰色的Docomo拖其合作伙伴在伦敦仲裁法庭,在那里赢得了一份价值11.7亿美元的奖。再一次,塔塔集团说印度外汇支付补偿将违反规则。



Ratan Tata放弃所有反对支付,争吵的可能已经结束。然而,Docomo的检查还没有确切的邮件。可能会有进一步的并发症,如果法庭同意让印度央行在德里一方争端。不过,意图建立支付现在,塔塔集团下一步需要采取必要的和退出电信。

塔塔Docomo,作为服务,不能继续更长的时间作为一个独立的运营商。市场的领导者Bharti Airtel ltd .)就舀起离开挪威载体Telenor亚撒的印度亿万富翁穆凯什•安巴尼的战斗单位低价4 g服务,依赖Jio,他已经投资了250亿美元。

沃达丰集团,与规模较小的竞争对手合并其印度子公司细胞有限公司,是一个追求者塔塔电信业务去年。但随着经济时报》上周报道的那样,更有可能博现在可能是信实电信有限公司所控制安尼尔•安巴尼穆克什的弟弟。

退出电信将使塔塔集团1030亿美元,将更多资金投入其他更有利可图的业务。周二的跳塔塔电信业务股票清楚地表明,投资者可能把日本结算出售的前兆。Docomo安抚,这是逻辑的事情。

*本专栏不一定反映的意见彭博资讯和它的主人。
  • 发布于2017年3月1日下午05:21坚持

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  • 观点:塔塔电信与Docomo埋葬短柄小斧后必须退出
By Andy Mukherjee<\/strong>
\n
\nTwo Indian businessmen went to war. A Japanese company won the spoils. Shareholders can't stop cheering.
\n
The bounty in question is a $1.17 billion payment from Tata Group<\/a> to NTT Docomo Inc., its partner in a struggling wireless carrier. Tata Teleservices Maharashtra<\/a> Ltd., the venture's publicly traded unit, rose more than 19 percent on Tuesday in Mumbai.
\n
Making Docomo run from pillar to post for the money was widely believed to be one of the reasons scion Ratan Tata<\/a> lost faith in his successor Cyrus Mistry<\/a>, and ousted him as chairman of the salt-to-software group's holding company in October. The bitter PR and legal<\/a> battle that ensued is only now starting to wind down.
\n\"\"
\n
\nWith Mistry out of the picture, the Indian company has finally decided to bury the hatchet. Or at least that's what it told a Delhi court on Tuesday.
\n
\nPaying the Japanese telco was important. It was needed both to shore up the Indian group's reputation for fair play and to burnish Ratan Tata<\/a>'s image, which has been badly dented by the allegations of backseat driving and bad judgment hurled at him by a spurned Mistry.
\n
At its core, the Tata-Docomo dispute was simple enough. Ratan Tata had persuaded Docomo to invest 145 billion rupees ($2.2 billion) in Tata Teleservices<\/a> in 2009 by promising that if things didn't work out in five years, the Indian conglomerate would either find a buyer for the Japanese company's 26.5 percent stake, or take over those shares<\/a> at half the original value of the investment.
\n
\nBut when Docomo exercised its option in 2014, Tata Group<\/a> was unable to find a buyer and seemed disinclined to purchase the Japanese stake. Mistry, who assumed the leadership in December 2012, took the position that the original agreement was legally untenable. He wanted to pay, he said, but couldn't because Indian law wouldn't let him. A livid Docomo dragged its partner to an arbitration court in London, where it won a $1.17 billion award. Once again, the Tata Group said paying the compensation would violate India's foreign-exchange rules.
\n
\n\"\"
\n
\nWith Ratan Tata dropping all objections to paying, the bickering may have ended. However, Docomo's check isn't exactly in the mail yet. There could be further complications if a court in Delhi agrees to make the Indian central bank a party to the dispute. Still, with its intent to pay now established, the Tata Group needs to take the necessary next step and exit telecom.
\n
Tata Docomo, as the service is known, can't go on much longer as an independent operator. Market leader<\/a> Bharti Airtel Ltd. just scooped up departing Norwegian carrier Telenor<\/a> ASA's Indian unit to fight billionaire Mukesh Ambani's low-priced 4G service, Reliance Jio<\/a>, in which he's already invested $25 billion.
\n
Vodafone Group Plc, which is merging its Indian unit with smaller rival Idea Cellular Ltd., was a suitor for Tata Teleservices<\/a> last year. But as the Economic Times reported last week, a more likely beau now may be Reliance Communications Ltd., which is controlled by Anil Ambani<\/a>, Mukesh's younger brother.
\n
\nExiting telecom would allow Tata, a $103 billion conglomerate, to push more capital into other, more lucrative businesses. Tuesday's jump in Tata Teleservices shares<\/a> clearly shows that investors may be viewing the Japanese settlement as a precursor to a sale. With Docomo placated, that would be the logical thing to do.
\n
\n*This column does not necessarily reflect the opinion of Bloomberg LP and its owners.<\/em>\n\n<\/body>","next_sibling":[{"msid":57411485,"title":"Airtel, Nokia join hands to create strategic roadmap for 5G, IoT","entity_type":"ARTICLE","link":"\/news\/airtel-nokia-join-hands-to-create-strategic-roadmap-for-5g-iot\/57411485","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":57411675,"entity_type":"ARTICLE","title":"View: Tata must exit telecom after burying hatchet with Docomo","synopsis":"With Mistry out of the picture, the Indian company has finally decided to bury the hatchet. Or at least that's what it told a Delhi court on Tuesday.","titleseo":"telecomnews\/view-tata-must-exit-telecom-after-burying-hatchet-with-docomo","status":"ACTIVE","authors":[],"Alttitle":{"minfo":""},"artag":"Bloomberg","artdate":"2017-03-01 17:21:59","lastupd":"2017-03-01 17:25:57","breadcrumbTags":["Anil Ambani","Maharashtra","industry","Shares","Tata Group","Legal","Telenor","Tata Teleservices Maharashtra","market leader","Reliance Jio","ratan tata","Tata Teleservices","Cyrus Mistry"],"secinfo":{"seolocation":"telecomnews\/view-tata-must-exit-telecom-after-burying-hatchet-with-docomo"}}" data-news_link="//www.iser-br.com/news/view-tata-must-exit-telecom-after-burying-hatchet-with-docomo/57411675">