Tatas looking for out-of-court settlement with Docomo

Tata Group, with Ratan Tata as the interim chairman, has sent feelers to the Japanese company NTT Docomo looking for out-of-court-alternatives to resolve the issues between the estranged partners. A group of three-member team that is evaluating options to pay Docomo $1.2 billion by way of an out-of-court settlement has also been formed by the Tata Group.

Shrinath Narasimhan, the MD of Tata Teleservices, will be playing a key role in the negotiations, people familiar with the development told ET.

It is being said that the two partners might meet next week, but there is no written communication yet, he further said.

The source also said that, as part of his outreach to various stakeholders including JV partners, Tata had spoken to senior Docomo leadership over phone, assuring them the group would do its best to seek a resolution to the three-year-old row.

It is being said that Prime Minister Narendra Modi is also keen that the issue is resolved as soon as possible and most likely wants a handshake during or before he leaves for Tokyo to meet his counterpart Shinzo Abe during November 11-12.