Japanese carrier, NTT Docomo, reportedly has decided to retain its holdings in Tata Teleservices in India for another year. NTT DoCoMo is not pulling out its stake in its telecom joint venture with the Tata Group in India, giving rest to the rumors of it exiting the Indian market, ET reports.
In case NTT Docomo had chosen to exit the partnership with the Tata Group by March 2014, the latter would have to look for a new partner of its choice, or buy NTT Docomo’s share in the joint venture. The company was earlier also rumoured to be in talks with Sistema Shyam group and more recently with Vodafone India for selling holdings of its Japanese partner.
Reportedly, while NTT Docomo has agreed on the one year extension to its partnership in Tata Teteservices, the company has dropped the option of raising its stake to 33 percent. Currently the Tatas holds 59.45 percent share and NTT Docomo holds 26.5 percent stake in Tata Teleservices in India.