NTT DoCoMo and Tata Sons to launch open offer for 20 per cent stake in TTML

Japan’s NTT DoCoMo and Tata Sons have decided to launch an open offer to acquire 20 per cent of Tata Teleservices (Maharashtra) Limited’s (TTML) shares at Rs 24.70 per share. The offer opens on January 8, 2009 and will close on January 27, 2009. The move follows NTT DoCoMo’s decision to acquire a 26 per cent stake in the Tata Group’s unlisted company, Tata Teleservices Limited (TTSL), for $2.7 billion.