Japanese giant pays $2.7 billion for a 26 per cent stake in Indian operator, eyes 3G auction.
The scramble into emerging markets by the big multinational operators continues, with Japan's NTT DoCoMo tying up a 26 per cent stake in sixth-ranked Indian operator Tata Telecom for $2.7 billion.No doubt DoCoMo is securing itself a piece of the Indian action in advanced of 3G spectrum auctions due to take place in January, in addition
The deal follows DoCoMo's $350 million investment in Bangladesh operator TM International.
Tata Telecom parent Tata Group, which has been investing heavily overseas through acquisitions of firms such as car maker Jaguar, has put all other M&A activity on hold citing the global credit crisis.
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