January 5, 2015
NTT DOCOMO Files Arbitration Request Regarding Stake in Tata Teleservices
TOKYO, JAPAN, January 5, 2015 --- NTT DOCOMO, INC. announced today that it submitted on January 3, 2015 a request for arbitration with Tata Sons Limited (Tata Sons), Tata Group's holding company, pursuant to the shareholders agreement regarding the exercise of DOCOMO's option to sell its stake in Tata Teleservices Limited (TTSL), a telecommunication service provider in India, as announced previously in a press release entitled "NTT DOCOMO Decides to Exercise Option for Sale of Stake in Tata Teleservices in India" issued on April 25, 2014.
Details of the arbitration are as below:
1. Arbitration court
London Court of International Arbitration
2. Location of arbitration court
3. Date of filing
January 3, 2015 (Japanese Standard Time)
4. Reason and background of request for arbitration
Under the terms of the shareholder agreement between DOCOMO, TTSL and Tata Sons, DOCOMO exercised on July 7, 2014 its right (option) to request that a suitable buyer be found to purchase its TTSL shares for 50% of the acquired price, amounting to 72.5 billion Indian rupees (or 125.4 billion yen1), or a fair market price, whichever is higher.
Thereafter, pursuant to the shareholders agreement, DOCOMO submitted its request for arbitration to ensure that its right be exercised after Tata Sons had failed to fulfill its obligation, despite DOCOMO's repeated negotiations with Tata Sons regarding the sale of its entire stake in TTSL.
DOCOMO will update this information in a timely fashion regarding any matters requiring disclosure.
About NTT DOCOMO
NTT DOCOMO provides innovative, convenient and secure mobile services that enable smarter living for each customer. The company serves over 64 million mobile customers in Japan via advanced wireless networks, including a nationwide 3G network and one of the world's first commercial LTE networks. Leveraging its unique capabilities as a mobile operator, DOCOMO is a leading developer of cutting-edge technologies for NFC mobile payments, mobile GPS, mobile TV, intuitive mobile assistance, environmental monitoring, smart grids and much more. Overseas, the company provides technical and operational expertise to eight mobile operators and other partner companies. NTT DOCOMO is listed on the Tokyo (9437) and New York (DCM) stock exchanges. Please visit https://www.nttdocomo.co.jp/english/ for more information.