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Industry: Email Alert RSS FeedDoCoMo buys 10-percent stake in KT Freetel.(News)
RCR Wireless News, December, 2005
Japanese telecom giant NTT DoCoMo Inc. announced plans to acquire a 10-percent stake in South Korean operator KT Freetel Co. Ltd. DoCoMo said it will invest $561 million in KTF through a third-party allotment of new shares, as well as the purchase of KTF treasury stock.
"DoCoMo has always considered South Korea's domestic mobile communications market as highly evolved and realizes that there is a growing need for mobile services amongst travelers between our two nations,'' said Masao Nakamura, chief executive of DoCoMo. "We are confident that KTF's ability in service development, combined with DoCoMo's experience with W-CDMA will create synergies-such as handset roaming-which will result in more convenience and satisfaction for the end user.''
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