NTT Docomo Inc. said a panel awarded the company $1.17 billion in compensation after arbitrators sided with Japan's largest mobile-phone carrier in a dispute with India's Tata Sons Ltd.
Tata Sons, the holding company of India's largest conglomerate, has been ordered by the London Court of International Arbitration to pay that amount to Docomo for breaching an agreement over Tata Teleservices Ltd., Docomo said in a statement Friday. In return, Tata Sons will receive or designate a recipient for Docomo's entire stake in Teleservices, according to the statement.
A Tata representative did not immediately respond to a request for comment. Docomo said it is uncertain whether Tata Sons will pay the awarded damages and that the Japanese carrier is unable to factor the verdict into its earnings forecasts.