The brand name DoCoMo is soon to part from Tata Docomo, a report on ET says. Tata Teleservices has decided to drop it in prior to its agreement with Japanese mobile operator NTT to use the brand ends. The agreement, which allows Tata to use the brand name Docomo will end in June 2015. The brand plans to adopt a new identity, without using the name Docomo, revealed an unidentified source. “The new brand building is likely to begin this year”, quoted the source. Till this new rebranding happens, the brand will continue its current set of advertisements.
However, there is no reliable responses obtained from Tata in this regard. Even the company’s creative agency ‘Contract India’ has said that they are not aware of any such plans.
Japanese player obtained a stake in Tata Teleservices for $2.7 billion. In case if the Japanese venture wanted to exit, another buyer has to buy its stake in the company at 50% of investment amount or fair market price.
In July 2014, NTT decided to exit the agreement and had asked Tata to find a new investor, to purchase their stake at $1.3 billion or a fair market price, whichever is quoted higher. Tata could not find a buyer for the said price, which invoked the NTT to file an arbitration in London Court of International Arbitration.
