'When you think of cross-border payments, the first things that come to mind are risk, compliance, taxation, speed, and cost.'
Tata Sons Ltd, the holding company of the $150 billion Tata group, may be forced to infuse fresh capital into its loss-making telecom arm, Tata Teleservices Ltd (TTSL). This is because TTSL has to pay Rs 19,256 crore adjusted gross revenue (AGR) along with other dues to the central government by March 2026.
The issue will now have to be resolved through arbitration.
The offer is applicable from September 25 to October 31 and qualifies new post-paid customers across all Tata Docomo brand stores to win iPhone 5S, Samsung and HCL tablets, data packages, powerbanks, discount coupons from Jabong, among others.
As Tata and DoCoMo look for out-of-court settlement, here's a blow-by-blow account of the long legal tussle
Docomo is looking to expand its reach beyond Japan and sees India and Africa as key emerging markets.
The total valuation of Tata Teleservices, according to the valuer, was only Rs 11,000 crore (Rs 110 billion), against the pre-agreed valuation of Rs 27,000 crore (Rs 270 billion).
Docomo has now moved the London Court of Arbitration.
In January this year, Tata Sons invested an additional Rs 2,500 crore (Rs 25 billion) in Tata Teleservices which was used to repay loans of the wireless telephony company.
It is the first private telecom firm to launch 3G mobile services in the country.
The parties have jointly applied to the Delhi high court, requesting that it accept their agreed terms of settlement, subject to such further orders as the court sees fit, it said.
DoCoMo said it is uncertain whether Tata Sons will pay the awarded damages.
Telecom major Tata Teleservices said it will offer comic books on mobile handsets to Tata DOCOMO subscribers.
The annual report also mentions Tata Sons is obligated to buy the stake at the higher end of fair value or 50 per cent of the subscription purchase price.
Tata Indicom's CDMA, GSM, 3G and Photon platforms will now be available under the unified brand Tata Docomo.
DoCoMo's exit from Tata Teleservices highlights the struggle of smaller operators even as the outlook improves for bigger players.
Regulator wants price to be in line with Tata Tele valuation.
Tata Teleservices (Maharashtra) on Friday said Japanese telecom major NTT DoCoMo's open offer for a 20 per cent stake in the company has been deferred following a delay in approval from market regulator Securities and Exchange Board of India.
The sale price would be 72.5 billion rupees ($1.19 billion) -- the equivalent to half of the original acquisition price -- or a 'fair market price', whichever was higher, as agreed when DoCoMo made the initial investment in 2009, Japan's top mobile phone services operator said in a statement.
The new service will enable Tata DcCoMo to provide anytime, anywhere electronic talk time recharge, bill payment and other value-added services.
Joining the bandwagon of companies slashing mobile Internet tariffs, telecom operator Tata Docomo on Tuesday announced a cut in its 2G and 3G mobile Internet rates by a whopping 90 per cent from 10 paise to 1 paisa per kilobytes from July 1.
The GSM service arm of Tata Teleservices Limited has invested close to Rs 50 crore (Rs 500 million) for the campaign featuring Bollywood actor Ranbir Kapoor.
And possibly in all of Asia, going by his reported fee of Rs 275 crore for Thalapathy 69, his coming movie.
Tata DoCoMo, which became the first private operator to introduce 3G services, today announced an aggressive tariff plan that targets a substantial conversion of its 2G customers.
The Rs 6,700-crore (Rs 67 billion) deal likely in a fortnight. News of the likely transaction first broke a few weeks ago. Investment banking sources now suggest that the deal will be announced in a fortnight, if not earlier. A Tata Teleservices spokesperson refused to comment, saying: "As a policy in the Tata group, we do not comment on speculative queries."
In March this year, DoCoMo completed acquisition of 26 per cent in TTSL, in accordance with the agreement announced by the parties last November, for Rs 12,740 crore (Rs 127.4 billion). TTSL, which is predominantly a CDMA player, acquired GSM licence last year under the government's policy where an operator can launch both GSM and CDMA services under a single licence.
While the two high-profile exits in pharmaceutical and telecom have raised concerns over regulatory hassles in the country, Japanese investors are still keen to tap into India's consumer growth story and many more merger and acquisition deals are in the offing in this space.
The reported buyback of Temasek's 20 per cent stake in Tata Play by Tata Sons will be the third instance of Tata Group providing an exit to a foreign partner in recent years. In 2018, Tata Sons paid $1.27 billion to DoCoMo to buy back 26 per cent of the group's telecommunication venture, Tata Teleservices. This was followed by Tata Sons acquiring AirAsia Berhad's 49 per cent stake in AirAsia India in two tranches to make it a wholly owned subsidiary.
The London Commercial court has granted Tata Sons a period of 23 days, starting July 27th 2016, to apply to set aside the exparte order
Tata Docomo, the mobility and business services brand of Tata Teleservices, on Tuesday launched a mobile advertising application 'GET' that allows users to get free voice minutes for viewing ads on their handsets.
Tata, 78, who retired as Tata Group Chairman nearly four years back, justified his return for "maintaining stability and continuity of leadership" and promised to give the group "a world-class leader" when a fulltime boss is appointed.
Terms reveal that such premature redemption is allowable on dividend reset dates in case there is no agreement on the dividend rate
The service, which would be branded 'Tata-DoCoMo', would be commercially rolled out towards the end of this month in the southern region, followed by western and northern regions. NTT DoCoMo acquired 26 per cent stake in Tata Teleservices for $2.7 billion last year. The company would be investing $2 billion in the operations, TTSL managing director Anil Sardana told reporters. This is $0.5 billion higher than its earlier earmarked investment of $1.5 billion.
However, survey by Japanese firm shows India as most preferred Asian market for Japanese investors.
Global telecom industry body the GSM Association on Thursday said it has decided to cancel the 2020 edition of the sector's largest event Mobile World Congress due to health safety concerns around novel coronavirus outbreak.
Cyrus Mistry had put in place a strategy that would have pulled most of the Tata group's 'legacy hotspots' out of the financial mess from legacy issues and helped turn around the group's finances.
The company plans to leverage its tie-up with NTT DoComo to offer many value-added services.
Which were the five businesses Ratan Tata had great hopes for, but his successor failed to deliver?
Bhargavi Zaveri & Radhika Pandey explains how complexities of foreign exchange rules are used by India Inc to dispute contractual obligations.
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