CCEA approves NTT Docomo Inc investment in Tata Teleservices

The Cabinet Committee on Economic Affairs today gave its approval to the proposal of M/s. NTT Docomo Inc. Japan, subject to the conditions recommended by FIPB, to acquire up to 384,241,919 equity shares (20.25%) of Tata Teleservices (Maharashtra) Limited and to convert Tata Teleservices (Maharashtra) Limited from an operating company into an operating cum holding company.

The approval would result in FDI amounting to Rs.949.07 crore (Approx.) in the country.

The Cabinet Committee on Economic Affairs today gave its approval to the proposal of M/s. NTT Docomo Inc. Japan, subject to the conditions recommended by FIPB, to subscribe to and / or acquire 1097043742 equity shares (27.31%) of equity capital of Tata Teleservices Limited.

It would result in FDI amounting to Rs. 12924 crores (approx.) in the country.

Source : Equity Bulls

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