By IANS,
New Delhi : Japanese telecom giant NTT DOCOMO Thursday said that it will invest Rs.8 billion ($179 million) in Tata Teleservices (TTSL), in which the company holds a 26 percent stake, as part of its strategy to expand in India’s rapidly growing mobile market.
“Payment of one portion of the funds has been made so far, and the rest of the investment is scheduled to be completed in May,” a statement by the company said.
TTSL is expected to use the capital to expand the coverage as well as strengthen the quality of the third generation (3G) network which the operator launched in November 2010.
However, TTSL denied to comment on the issue.
The operator offers GSM mobile services under the Tata DOCOMO brand and CDMA services under the Tata Indicom brand.