When Docomo exercised its option in 2014, Tata group was unable to find a buyer and seemed disinclined to purchase the Japanese stake. The bounty in question is a $1.17 billion payment from Tata group to NTT Docomo Inc., its partner in a struggling wireless carrier. Once again, the Tata group said paying the compensation would violate India’s foreign-exchange rules. Still, with its intent to pay now established, the Tata group needs to take the necessary next step and exit telecom. Tata Docomo, as the service is known, can’t go on much longer as an independent operator.

Source: Mint March 01, 2017 02:59 UTC