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This is an archive article published on March 29, 2011

‘DoCoMo to buy into Tata Tele rights’

Japan's NTT DoCoMo is to buy into a rights issue by Tata Teleservices.

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Japan’s NTT DoCoMo is to buy into a Rs 30 billion rights issue by Ratan Tata-led Tata Group’s Tata Teleservices,set to be announced as soon as this week,two sources with knowledge of the matter said on Tuesday.

DoCoMo already owns 26 percent of the Indian company and is set to maintain its percentage holding after the issuance,the sources said.

Proceeds from the issuance are to be used to fund Tata’s 3G rollout,the sources said.

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