Tata-DoCoMo headed for international arbitration after RBI rejects Tata buying Docomo’s stake for $1.1 billion
The Reserve Bank has rejected Tata Sons' proposal to buy Japanese telecom firm NTT DoCoMo's stake in their struggling joint venture, Tata Teleservices 7th largest operator by market share, for about 1.1 billion dollars (Rs 7,250 crore). "The RBI has conveyed that it cannot accede to this request as the same is not in conformity with the extant FEMA regulations and has advised that any such purchase of shares be... Read More
