Tata Teleservices (Maharashtra) on Friday said Japanese telecom major NTT DoCoMo's open offer for a 20 per cent stake in the company has been deferred following a delay in approval from market regulator Securities and Exchange Board of India.
In an announcement to the shareholders of TTML, DoCoMo said the Rs 949 crore (Rs 9.49 billion) open offer for a 20 per cent stake in the firm has been postponed, "till further notice in this regard is published by the manager to the offer".
The open offer, by DoCoMo along with Tata Sons, was scheduled to begin on January 8 and close on January 27 next year.
"The revised schedule" on the offer will be announced after Sebi gives its "observations in terms of the regulations", TTML said in a filing to the National Stock Exchange.
The offer was for acquiring 38,42,41,919 shares or up to 20 per cent at Rs 24.70 a piece.
In November, NTT DoCoMo Inc had acquired a 26 per cent stake for $2.7 billion (Rs 13,070 crore) in Tata Teleservices Ltd.
