New Delhi (PTI): NTT DoCoMo Inc, Japan's biggest mobile-phone operator, on Wednesday acquired a 26 per cent stake for 2.7 billion dollars (Rs 13,070 crore) in Tata Teleservices Ltd to expand into the world's fastest-growing major wireless market, valuing the company at 10.4 billion dollars.

Through a joint offer with Tata Sons, DoCoMo will also have to make an open offer to acquire up to 20 per cent of the outstanding common shares of Tata Teleservices (Maharashtra), which is listed on the Indian bourses, as per Indian regulatory laws.

Tata Teleservices (Maharashtra)'s net loss for the second quarter ended September 30 stood at Rs 47.35 crore. TTSL (M) shares were up 7.60 per cent to close at Rs 17.99 on the BSE.

"As a result of the caiptal alliance, the partners expect to expand mobile commnucation operations in the fast-grwoing Indian mobile market aiming to increase operating revenue and achieve steady business growth," a Tata press statement said.

NTT DoCoMo now joins foreign telecom firms like Vodafone (UK), Maxis (Malaysia), Telekom Malaysia (Malaysia), Etisalat (UAE) and Telenor (Norway), which are present in India through local JVs.