Society | Sep 29

NTT eyes turning NTT Docomo into wholly-owned unit

Nippon Telegraph and Telephone Corp. is planning to turn Japan's largest mobile carrier NTT Docomo Inc. into a wholly-owned company through a takeover bid, sources close to the matter said Monday.

NTT is considering acquiring about 30 percent of NTT Docomo shares owned by individual shareholders for some 4 trillion yen ($37.9 billion) to put the company under full control, the sources said.

The telecom giant is expected to announce the plan soon.

As Prime Minister Yoshihide Suga is pushing for lower smartphone service fees and telecom companies are vying to adopt future-generation "5G" networks, NTT aims to build effective management in the mobile carrier group.

After the takeover, NTT Docomo would be delisted from the First Section of the Tokyo Stock Exchange, the sources said.

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