All smiles: Anil Sardana, managing director of Tata Teleservices, with Takamochi Yamada, NTT president

NTT DoCoMo, Japan’s largest mobile phone company by market share, is to pay Rs130.7bn ($2.7bn) for 26 per cent of Tata Teleservices in a deal that highlights the high prices foreign operators are willing to pay to enter the booming Indian market.