Tata-Docomo dispute settled as Tata Sons pays $1.27 bn arbitration award

Docomo says it has received over $1.2 billion from Tata Sons, ending the two-year-old dispute over their Indian telecom joint venture. Photo: Bloomberg

Docomo says it has received over $1.2 billion from Tata Sons, ending the two-year-old dispute over their Indian telecom joint venture. Photo: Bloomberg

Japan’s NTT Docomo Inc. said on Tuesday that it had received from Tata Sons Ltd the 144.9 billion yen ($1.27 billion) it was awarded by an international arbitration court last year for its stake in Tata Teleservices Ltd (TTSL).

The payment marks the exit of the Japanese company from TTSL and brings the curtain down on a dispute that broke out after Docomo’s 2014 decision to exit from the venture in which it had purchased a stake in 2009.

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Credit: livemint.com