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Telenor to consider acquisition options in TTSL

Telenor to consider acquisition options in TTSLThe telecom operator Telenor is looking forward towards the acquisition options in Tata Teleservices limited. Japan’s NTT Docomo has 26 percent shares in TTSL which it acquired in TATA Group in 2008. It was likely to remain a shareholder in the merged entity, as per sources. In this regard, it is examining the option of acquiring NTT DOCOMO’s stake in TTSL subject to NTT DOCOMO’s approval and then merging it with Uninor.

The deal will take place as per the guidelines of formulated by TRAI. In 2014, a Japanese telco decided to exit its Indian operations through the sale of its stake in TTSL. Then, NTT DOCOMO decided to pull out of the joint venture as TTSL was unable to meet some of the performance targets set before it as per the agreement. As per the contract, TTSL is required to buy back NTT DOCOMO’s stake at 50 per cent of the transaction value of the stake acquired in 2008 or the prevailing market price, whichever is greater.

As per the sources, Telenor can also consider the option of buying the Japanese company. Back in 2012, Telenor had also decided to partner with TTSL for continuing its telecom operations in India after its fallout with Unitech, following the cancellation of licences of their joint venture, Uninor, in February 2012 by the Supreme Court.

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Heena Gupta

A reader at heart, this girl loves to express through writing. Her ears perk up as soon as she senses any tech molecule in the air. With the ability to use and navigate typical technologies she becomes a complete tech enthusiast. This post graduate in Mass Communication lives in the world of gadgets. Fiction, history and cartoons keep her busy in the free time. Her urge to grow mixed with excellent writing skills forces us to have her as a part of our workforce.

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