DoCoMo to acquire 10 percent stake in KTF for $560 million.(KT Freetel Company Ltd. acquired)(Brief Article)

Asia Pacific Telecom, January, 2006

In a deal valued about $560 million, Japan's NTT DoCoMo will acquire a 10 percent stake in South Korea's leading wireless carrier, KTF. The deal will be completed before January 2006. KTF is allotting new shares and issuing treasury stock of the firm. The Japanese company will get a berth in KTF's board.

DoCoMo will also provide KTF with technology to roll out 3G services. The telecom companies are planning to offer roaming services for their clients in their respective countries. KTF executives hope that DoCoMo will help the company to become the leading player in the South Korean market.