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Vodafone eyes bid for Tata Teleservices - report
2014-01-03 09:02:00| Telecompaper Headlines
(Telecompaper) Vodafone is in early talks with the Tata Group to buy a controlling stake in Tata Teleservices in order to create India's largest operator by subscribers. A person aware of the development told the Economic Times that the discussions are still at an early stage. The right of first refusal to the Tatas' 59.45 percent stake in Tata Teleservices rests with its Japanese partner NTT DoCoMo, which owns a little over a quarter of the operator. But if Docomo refuses to buy out Tata, the Indian partner has the right to exercise its 'drag along' rights and force Docomo to sell its shares to the buyer of its choice, said two people familiar with the development. Another source told the paper that Vodafone is looking to make an offer to all the shareholders in Tata Teleservices. The companies all declined to comment.
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Category:Telecommunications