11/13/2008

With a strong yen at its back, Japan's largest wireless carrier, NTT DoCoMo, has agreed to take a 26% stake in Tata Teleservices, India's sixth-largest mobile operator, for $2.7 billion, saying it would eventually consider raising its interest to more than 50%. DoCoMo is buying into a company whose network is nowhere near as advanced as its own, but with the Indian mobile-phone market growing by up to 9 million new subscribers a month, the Japanese telecom said it saw huge growth potential in the country.

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