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Industry: Email Alert RSS FeedNTT DoCoMo and KT Freetel to invest jointly in U Mobile
Telecomworldwire, Dec 3, 2007
TELECOMWORLDWIRE-3 December 2007-NTT DoCoMo and KT Freetel to invest jointly in U Mobile(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com
Japanese mobile communications company NTT DoCoMo Inc and KT Freetel Co, a mobile communications service provider, have agreed to invest jointly in U Mobile Sdn Bhd, a new Malaysian 3G mobile operator due to launch commercial service next year.
The companies confirmed that they will collectively acquire 33% control of U Mobile Sdn Bhd.
NTT DoCoMo and KT Freetel will, following approval from the Malaysian government, invest USD100m respectively through third party allotment of new shares, providing each company with 16.5% shares with voting rights.
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The companies said they will participate jointly in U Mobile's management and use their 3G experience to improve the new company's competitiveness. NTT DoCoMo and KT Freetel both plan to promote international roaming services through the new company's 3G network, for their respective subscribers travelling in Malaysia.
((Comments on this story may be sent to tww.feedback@m2.com))
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