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NTT DoCoMo receives $1.2 bn as arbitration award from Tata Sons

The legal tussle between NTT DoCoMo and Tata Teleservices continued for almost 3 years

IANS  |  New Delhi 

A woman walks past a brach of Japanese mobile communications company NTT Docomo in Tokyo, Japan. Photo: Reuters
A woman walks past a brach of Japanese mobile communications company NTT Docomo in Tokyo, Japan. Photo: Reuters

Japanese telecom major has received 144.9 bn yen ($1.2 billion) from following which it has transferred its shares in to

"has received from Limited payment of the award amount in accordance with the High Court of Delhi's decision regarding DoCoMo's stake in Limited," said in a statement on its website on Tuesday. had in May announced the court's decision.

"Concurrent with the receipt of the above amount, all shares in Limited held by have been transferred to and designated by Tata Sons," the statement said.

Earlier, had decided to sell its entire 26.5 per cent stake in and withdraw from mobile telephony in India.

The legal tussle between and continued for almost three years. The this April had allowed to pay $1.17 billion arbitration award for termination of their telecom joint venture.

First Published: Wed, November 01 2017. 03:19 IST
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