Home >industry >telecom >DoCoMo won’t sell India venture stake: WSJ report

New Delhi: Japan’s NTT DoCoMo is not looking to sell its 26% stake in Indian partner Tata Teleservices despite setbacks such as competition over tariffs and telecom licence cancellations by the Supreme Court, TheWall Street Journal (WSJ) reported on Thursday.

Tata Teleservices had three of its licences cancelled in the February 2012 verdict. The Japanese company denied Indian media reports it was seeking to exit India, the WSJ report said.

“We plan to hold on to our stake," Docomo president Kaoru Kato said in an interview on Wednesday. “We’re aware that growth may take time," he added. He also denied reports Docomo was in talks to sell a stake in the loss-making telecom to Russian conglomerate AFK Sistema, which owns Sistema Shyam Teleservices Ltd in India.

“We are in this for the long haul. So there are a few surprises. There is no mistake that growth will come," he said.

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