NTT DOCOMO Files Arbitration Request Regarding Stake In Tata Teleservices Ltd.

(RTTNews) - Japanese mobile operator NTT Docomo Inc. (DCM) announced that it submitted on January 3, 2015 a request for arbitration with Tata Sons Limited, Tata Group's holding company, pursuant to the shareholders agreement regarding the exercise of DOCOMO's option to sell its stake in Tata Teleservices Limited or TTSL, a telecommunication service provider in India, as announced previously in a press release issued on April 25, 2014.

As per terms of the shareholder agreement between DOCOMO, TTSL and Tata Sons, DOCOMO exercised on July 7, 2014 its right to request that a suitable buyer be found to purchase its TTSL shares for 50% of the acquired price, amounting to 72.5 billion Indian rupees or 125.4 billion yen, or a fair market price, whichever is higher.

Thereafter, pursuant to the shareholders agreement, DOCOMO submitted its request for arbitration to ensure that its right be exercised after Tata Sons had failed to fulfill its obligation, despite DOCOMO's repeated negotiations with Tata Sons regarding the sale of its entire stake in TTSL.