DoCoMo acquires 11.5 percent stake in Blue Ocean Wireless.(JAPAN)

Asia Pacific Telecom, October, 2008

According to a Reuters report, Japan-based DoCoMo has bought a 11.5 percent stake in cellular service provider Blue Ocean Wireless--which provides GSM-based services to the maritime industry--for about $10 million. This deal has valued Blue Ocean at over $87 million, according to the Reuters report.

Blue Ocean had sold new shares to the Japanese telecom player, thus reducing the holding of current shareholders, including an affiliate of the Philippine Long Distance Telephone (PLDT). According to PLDT, the stake of its affiliate Smart Communications in the mobile operator has now decreased from 32 percent to 28.3 percent. In June, DoCoMo acquired a 30 percent stake in third-largest mobile operator, TM International, for $350 million.