India’s Tata settles $1-B dispute with Japan’s NTT Docomo

MUMBAI: Indian salt-to-steel conglomerate Tata said Tuesday it had reached agreement with NTT Docomo to pay the Japanese mobile carrier $1.18 billion to settle a long-running legal dispute.

Docomo paid $2.6 billion for a 26.5 percent stake in Tata Teleservices in 2008 but triggered an option to sell it six years later after incurring losses and deciding to withdraw from India.