BUSINESS

Delhi HC Approves $1.18 Billion Settlement Between Tata Sons And NTT DoCoMo

It allowed the Indian firm to buy out the Japanese firm's stake in the telecoms joint venture.

28/04/2017 3:43 PM IST | Updated 28/04/2017 4:02 PM IST
Thomas Peter / Reuters

The Delhi High Court has approved a settlement of the $1.18 billion dispute between Tata Sons and NTT DoCoMo, allowing the Indian firm to buy out the Japanese firm's stake in the telecoms joint venture, TV news channels reported on Friday.

The Reserve Bank of India (RBI) had blocked Tata's offer, saying a rule change in 2016 prevented foreign investors from selling stakes in Indian firms at a pre-determined price.

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