Carlyle Group, Kyocera spend $2B to get PHS biz from Japan's KDDI.(News)

RCR Wireless News, June, 2004

Byline: SANDRA WENDELKEN A consortium of the Carlyle Group and Kyocera Corp. announced plans to acquire Japanese PHS carrier DDI Pocket, a subsidiary of Japanese mobile carrier KDDI, in a $2 billion deal. Under the agreement, Carlyle Group, a U.S. investment fund, will own 60 percent of DDI Pocket, the country's leading PHS carrier, and Kyocera will retain 30 percent.

The remaining 10 percent will be held by KDDI. Taha Rangwala, an analyst in the Business Strategies Group with Pyramid Research, said the $2 billion price tag follows its estimates of DDI Pocket, considering the carrier has been a cash cow for KDDI. Pyramid valued DDI Pocket at between $2.3 billion and $2.6 billion, making the combined Carlyle/Kyocera 70-percent stake for $2...

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