In a latest buzz coming from the corporate world, Vodafone is said to be in talks with Tata Group to acquire a substantial amount of shares in Tata Teleservices. The move came in a bid to become India's largest telcom operator. Although the talks of expansion are in initial stage, it would be too early to predict about anything on the deal. However, in an interview, company insiders have confirmed the news, so we can expect to hear the announcement soon. “Discussions are at an early stage. It is difficult at this stage to say what the outcome of these talks will be,” said the company's spokesperson.
As per the shareholders agreement between Tata Sons and NTT DoCoMo, if certain variables are not met before the end of first quarter and the Japanese firm decide to exit, Tata Sons would be bound to find a partner to buy the remaining shares, else it has to buy out those shares.
Moreover, it is also being said that besides Tata and NTT DoCoMo, Vodafone is also willing to make offers to other shareholders. It is expected that above said deal will bring enough business for Vodafone to overtake Bharti Airtel in becoming the biggest telcom operator in India.