TTSL raises stake in Tata Tele Maharashtra by 11.7%
Tata Teleservices Ltd has raised its stake in Tata Teleservices (Maharashtra) Ltd by 11.76 per cent to 48.3 per cent by acquiring the shares that Japanese giant NTT DoCoMo had surrendered on exit from the company.
In a regulatory filing, Tata Teleservices (TTSL) said that with the acquisition of 22.98 crore shares or 11.76 per cent stake, it now held 94.41 crore shares or 48.3 per cent stake.
In a separate filing, the company informed that NTT DoCoMo has tendered its entire shareholding in TTSL (the promoter of Tata Tele Maharashtra) to Tata Sons and its nominees on October 31, 2017.
"Consequently the shareholders agreement dated March 25, 2009 entered between DoCoMo, TTSL and Tata Sons (including all rights held by DoCoMo in Tata Teleservices Maharashtra) have terminated," it said.
Accordingly, it has been decided that DoCoMo would transfer its entire residual shareholding in Tata Teleservices (Maharashtra) to Tata Teleservices Ltd.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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