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Tata offers to buy out Docomo at Rs 23.3 a share

But Docomo insists on a valuation of Rs 58 per share to exit Tata Teleservices

The Tata group has offered to buy out Japanese telecom major NTT Docomo’s 26.5 per cent stake in the loss-making Tata Teleservices for Rs 23.34 a share, after the finance ministry and the Reserve Bank of India (RBI) rejected the group’s application to buy back Docomo’s shares at the pre-agreed valuation of Rs 58 a share. The 60 per cent lower offer was made on the basis of a fair market value determined on June 30, 2014. Docomo has now moved the London Court of Arbitration to get a valuation of Rs 58 a share, which translates into Rs 7,200 crore for its entire stake in ...