Tata Teleservices soars on open offer

DALAL STREET SPIKES

Shares of Tata Teleservices soared by 12.23 per cent to close at Rs 20.19 a share extending gains for the second session after Japan’s NTT DoCoMo and Tata Sons jointly made an open offer for a 20 per cent stake in the company. A total of over 1.6 crore shares changed hands on the Bombay Stock Exchange.

Shares of the company touched a high of Rs 20.94 a share and a low of Rs 19.8 a share in intraday trading. NTT DoCoMo, acquired the stake for $2.7 billion (Rs 13,070 crore) in Tata Teleservices to expand into the world’s fastest growing major wireless market valuing the company at $ 10.4 billion.