Tokyo, Jan 5, 2015 - (JCN Newswire) - NTT DOCOMO, INC. announced today that it submitted on January 3, 2015 a request for arbitration with Tata Sons Limited (Tata Sons), 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 (TTSL), a telecommunication service provider in India, as announced previously in a press release entitled "NTT DOCOMO Decides to Exercise Option for Sale of Stake in Tata Teleservices in India" issued on April 25, 2014.
Details of the arbitration are as below:
1. Arbitration court
London Court of International Arbitration
2. Location of arbitration court
London, England
3. Date of filing
January 3, 2015 (Japanese Standard Time)
4. Reason and background of request for arbitration
Under the terms of the shareholder agreement between DOCOMO, TTSL and Tata Sons,
DOCOMO exercised on July 7, 2014 its right (option) 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(1)), 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.
5. Others
DOCOMO will update this information in a timely fashion regarding any matters requiring disclosure.
Notice:
(1) 1 rupee = 1.73 yen as of March 31, 2014
About NTT DOCOMO
NTT DOCOMO is a world-leading mobile operator and growing provider of comprehensive services centered on mobility. The company serves over 60 million customers in Japan via advanced wireless networks, including a nationwide 3G network and one of the world's first commercial LTE networks. Leveraging its unique capabilities as a mobile operator, DOCOMO is a leading developer of cutting-edge technologies for NFC mobile payments, mobile GPS, mobile TV, intuitive mobile assistance, environmental monitoring, smart grids and much more. Overseas, the company provides technical and operational expertise to eight mobile operators and other partner companies. NTT DOCOMO is listed on the Tokyo (9437), London (NDCM) and New York (DCM) stock exchanges. Please visit www.nttdocomo.com for more information.
Source: NTT DOCOMO
Contact:
Eijun Tanaka or So Hiroki
International PR
Public Relations Department
Tel: +81-3-5156-1366
Fax: +81-3-5501-3408
Website: www.nttdocomo.com
Copyright 2015 JCN Newswire. All rights reserved. www.japancorp.net