After being ousted from the third Tata Group company, Cyrus Mistry, former chairman of Tata Sons on Wednesday said that his removal was anticipated.
"Tata Teleservices like TCS entails a supermajority ownership by the Tata Group currently under the control of RNT. This outcome was foregone. Being a closely held company the outcome isn't surprising at all," sources close to Mistry said.
In yet another unanimous vote, Mistry was asked to leave Tata Teleservices last evening. Tata Sons owned a 36.17% stake in TTSL and NTT DoCoMo 26.5%.
On December 12 Mistry was voted out from Tata Industries and December 13 from Tata Consultancy Services (TCS)'s Board of directors.
Shares of Tata Teleservices were trading lower 0.32% at Rs 6.20 per share in early trade session on BSE Sensex.
09:56 AM IST
DoT approves Bharti Airtel, Tata Teleservices merger
Tata Sons writes off entire investment of Rs 28,651 cr in Tata Teleservices
Aircel files for bankruptcy, American Tower suffers $140 mn hit