India needs to act on Tata row: DoCoMo

NEW DELHI: NTT DoCoMo, locked in a financial dispute with India’s largest conglomerate, said the South Asian country’s government will need to take action to resolve the disagreement,

The Japanese carrier has been fighting its joint venture partner Tata Sons over the right to sell its stake in their Indian wireless telecommunications business for at least 50% of the original investment, according to Bloomberg report.

India’s central bank has signalled that such a payment would violate rules governing investments from outside the country.

“To solve this problem, we need the Indian government’s action,” said Kazuhiro Yoshizawa, CEO, DoCoMo, following a briefing held to discuss first-half earnings.

Leave a Reply

Your email address will not be published. Required fields are marked *