Tata Sons Ltd today said that DoCoMo would acquire 12 per cent of the common shares of Tata Teleservices (Maharashtra) Ltd (TTML) for about Rs 570 crore through an open offer.
“DoCoMo is preparing to acquire roughly 12 per cent of the common shares of Tata Teleservices (Maharashtra) Ltd (TTML) for about Rs 570 crore through an open offer, as the tender offer period ended on March 12,” a statement by the company said. The statement added Tata Sons has completed the sale of a 26 per cent stake in the group’s unlisted mobile telecom firm, Tata Teleservices Ltd, to DoCoMo. The two firms had announced the $ 2.7 billion deal in November last year. DoCoMo will nominate three executives to serve on TTSL’s board of directors, Tata Sons said in a statement. With this, DoCoMo is now a 26 per cent shareholder in TTSL, where Tata Sons is the single largest shareholder, with over 40 per cent stake in the company. NRI businessman C Sivasankaran holds 8 per cent and the Singapore government’s investment arm holds 9.9 per cent. The Japanese company said the acquisition in TTSL included 20 per cent newly issued shares and 6 per cent shares purchased from shareholders. Yesterday, Tata Communications sold one per cent of its stake in TTSL to DoCoMo for Rs 424 crore and another Tata firm, Tata Power, is also learnt to have sold some of its stake to DoCoMo for Rs 317 crore.
Showing posts with label Tata Teleservices. Show all posts
Showing posts with label Tata Teleservices. Show all posts
Saturday, March 28, 2009
Thursday, July 12, 2007
M&A marketshare limit be 40%: BSNL
State-owned BSNL has suggested lowering of the market share limit to 40 per cent from the current 67 per cent following the merger and acquisitions of two entities in the telecom sector to avoid monopolistic situation.
cellular company Vodafone Essar, which has recently acquired number two slot in terms of subscriber base, said "We are of the opinion that the 67 per cent limit is appropriate when applied to a narrow mobile market definition.
CDMA player Tata Teleservices wants this cap to be at 45 per cent. "We recommend a maximum market share of 45 per cent for the merged entity," the company said.
The PSU also wants fixing a maximum spectrum limit that would be held by a merged entity be. It also does not want any merger to be allowed between a CDMA and a GSM company. Vodafone Essar said the merged entity should have a spectrum limit.
(Source: Economic Times)
cellular company Vodafone Essar, which has recently acquired number two slot in terms of subscriber base, said "We are of the opinion that the 67 per cent limit is appropriate when applied to a narrow mobile market definition.
CDMA player Tata Teleservices wants this cap to be at 45 per cent. "We recommend a maximum market share of 45 per cent for the merged entity," the company said.
The PSU also wants fixing a maximum spectrum limit that would be held by a merged entity be. It also does not want any merger to be allowed between a CDMA and a GSM company. Vodafone Essar said the merged entity should have a spectrum limit.
(Source: Economic Times)
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