MUMBAI -- The Tata group and NTT Docomo are set to finally resolve a row dating to 2014 over a foundering telecom venture, adding a new wrinkle to an industry undergoing upheaval and leaving the Japanese carrier to rethink its overseas strategy.
The Indian conglomerate on Tuesday agreed to withdraw its objection to the enforcement of an international arbitration court's $1.17 billion award to Docomo over a dispute surrounding the terms of the Japanese company's exit from the partnership. India's central bank has not given its approval, citing doubts about the award's compliance with Indian law. Tata had relied on this rationale in its standoff with Docomo, but has decided to change tack. Whether the dispute actually will be laid to rest is now up to authorities.