Business Services Industry
DoCoMo eyes Tower Records.(NTT DoCoMo acquire Tower Records Japan )(Brief Article)
Asia Pacific Telecom, December, 2005
NTT DoCoMo is a major mobile service provider in Japan. It is planning to acquire a 42 percent stake in Tower Records Japan to control the music software retailer company in the country. DoCoMo will buy shares of the company that will include a part of the shares held by Nikko Principal Investments.
At present, Nikko is the largest shareholder of Tower, with total stake of 32.24 percent. DoCoMo will pay $108.2 million for the said deal. DoCoMo wishes to expand its 3G user base by providing credit card and e-money facilities at 78 Tower Records music stores in the country. DoCoMo's users will be able to receive discounts and buy CDs without paying cash. Around 6.5 million subscribers are using the payment facilities. DoCoMo's cellphone readers are installed at...
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