(MENAFN) The Nikkie daily reported that India's Tata Sons Ltd had agreed to pay Japan's NTT DoCoMo about USD1.17b in line with the termination of a joint venture in the South Asian nation.
According to the report, the deal may be announced on Tuesday, whereas Tata Sons and DoCoMo were not available to comment.
Earlier, when DoCoMo decided to get out in 2014, Tata was unable to find a buyer for the Japanese firm's stake and offered to buy the stake itself for half of DoCoMo's USD2.2b investment.
On the other hand, India's central bank blocked Tata's offer, saying a rule change the previous year prevented foreign investors from selling stakes in Indian firms.
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