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According to Bharti Airtel, the scheme of arrangement for its merger with the consumer business of TTSL has become effective from Monday.
"The award orders that Tata Sons pay damages to DoCoMo in the amount of approximately USD 1.172 billion for Tata Sons' breach of the shareholders agreement, upon DoCoMo's tender of its entire stake in TTSL to Tata Sons or its designee," it said in a statement.
Its agreement with TTSL gives it access to Maharashtra, Gujarat, Haryana and UP west.
DOCOMO, TTSL and Tata Sons Limited (Tata Sons), Tata Group's holding company, concluded a shareholder agreement when DOCOMO entered into a business alliance with TTSL in March 2009.
As per FY10 results, on a total income of Rs.6,397 crore, TTSL incurred a net loss of Rs.1,334 crore.
The TTSL 'Photon Pro' network features ECI's Hi FOCuS Multi-Service Access Node (MSAN) and SR9000 Carrier Ethernet Switch Router (CESR) platforms.
The new brand (see www.tatadocomo.com, available after 16:30 JST), developed by the Business and Technology Cooperation Committee that DOCOMO and TTSL have jointly established, symbolizes the two companies' strong partnership and their commitment to the development of India's rapidly growing mobile phone market.
Backed by experience of more than 200 managed services contracts worldwide serving a subscriber base in excess of 190 million, not to mention its global delivery capabilities, Nokia Siemens Networks is ideally suited to launch TTSL's GSM services seamlessly and in a quick and efficient manner.
Start up Arena - Start Up cracking comprehensive solutions for SME's inked an exclusive partnership with Tata Teleservices Limited (TTSL) - India's fastest-growing pan India telecom service provider, for providing solutions in North Zone for various services which includes IOT solutions - Fleet tracking, school bus tracking and employee tracking, Data Solutions - Internet leased line (IIL), MPLS Communication Solutions - IVR, PRI and SIP trunk.
In a press statement, DoCoMo said its " board of directors resolved today to exercise the company's option for the sale of its entire 26.5 per cent stake in Tata Teleservices Ltd (TTSL).'' Under the March 2009 agreement between DoCoMo and the Tata Group, the Japanese firm holds the right to hand over its TTSL shares for 50 per cent of the acquisition price, which amounts to ` 7, 250 crore, or a fair market price, whichever is higher, in the event that TTSL fails to achieve certain specified performance targets.
The tribunal has put up the matter for hearing on November 20 while Vodafone has assured the court it will not stop interconnection of TTSL SMSes from its network till the next date of hearing.
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