Japan's DoCoMo to invest $179 mn in Tata Tele

NEW DELHI, INDIA: Japan's NTT DoCoMo said on Thursday it plans to make new investments of about 8 billion Indian rupees($179 million) in Indian mobile phone operator Tata Teleservices in which the Japanese firm owns a 26 per cent stake.

Tata Tele is expected to use the capital to expand its coverage as well as strengthen the quality of the 3G network it launched in November last year, NTT DoCoMo said in a statement on its website.

Sources had previously told Reuters Tata Tele was planning to raise 30 billion rupees through a rights issue that would be subscribed by major shareholders, including DoCoMo.