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. Also Read - Top 5 WhatsApp Business features MSMEs should use to run their businessAlso Read - Vodafone Idea debuts Rs 24 minimum prepaid recharge plan; 100 local calling minutes, 28 days validity
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. Also Read - Tata Docomo offers new prepaid plan with 4GB data and 56-day validity at Rs 165
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.