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Tata And Microsoft Approved To Set Up Chinese JV
October 18, 2006 |
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Tata Consultancy Services Ltd, the largest computer service consulting service provider in India, says that its plan to set up a joint venture company with Microsoft (MSFT) in China has been approved by Chinese regulators.
Tata says it will hold the majority stake, Microsoft will hold 10% and three Chinese companies will jointly hold 28% of the new JV.
The joint venture is backed by China's National Development and Reform Commission, and is expected to become profitable within 18 months.
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