Toyota sells stakes in group companies of J-Phone Communications - Company Business and Marketing - Brief Article

Telecomworldwire, April 17, 2001

TELECOMWORLDWIRE-17 April 2001-Toyota sells stakes in group companies of J-Phone Communications (C)1994-2001 M2 COMMUNICATIONS LTD http://www.m2.com

Japan's Toyota Motor Corp has sold its stakes in the three companies that comprise the Japanese mobile phone carrier J-Phone Communications Co.

Toyota sold its 1.97% stake in J-Phone East Co, its 1.98% stake in J-Phone Central Co and its 5% stake in J-Phone West Co for an undisclosed amount to Japan Telecom Co. The car maker still owns 13.3% of J-Phone's domestic rival KDDI Corp.

J-Phone Communications is 54% owned by Japan Telecom while British Telecommunications Plc (BT) has a 20% stake and Vodafone Group Plc owns 26%, according to AP. Recently Japan Telecom and BT signed an agreement whereby BT will acquire a 5% stake in each of the three J-Phone companies for USD546m.

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