Quantcast

DOCOMO Agrees to Purchase Additional Shares in PLDT

May 13, 2011

Tokyo, May 13, 2011 – (JCN Newswire) – NTT DOCOMO, INC. announced today that it has signed an option agreement with JG Summit Holdings, Inc. (JG SUMMIT) to trade about 2% of the total issued and outstanding shares of Philippine Long Distance Telephone Company (PLDT), worth an estimated about 263 million U.S. dollars or about 21.6 billion Japanese yen as of April 28, 2011.

The option to acquire the additional shares from JG SUMMIT must be exercised within 30 days of the shares being listed with the Philippine Stock Exchange.

The move is aimed at maintaining the NTT Group’s cumulative stake at about 20% following PLDT’s planned acquisition of a majority stake in Digital Telecommunications Philippines Inc. via a share swap announced on March 29. PLDT will issue its new shares after the acquisition, which is planned to be completed by the end of this June. NTT Communications Corporation, a sister company of DOCOMO in the NTT Group, also owns PLDT common stock.

DOCOMO will further strengthen its operational ties with PLDT and its wholly owned mobile communications subsidiary Smart Communications, Inc., aiming to increase the corporate value of both entities through the efforts of a joint business cooperation committee involving the three companies.

DOCOMO, since acquiring about 7% of PLDT in March 2006, has been steadily raising its share as part of building a comprehensive partnership with PLDT. The NTT Group’s combined shareholding rose to over 20% in February 2008.

About NTT DOCOMO

NTT DOCOMO is the world’s leading mobile operator and provider of advanced mobile services. The company serves over 56 million customers in Japan, including 49 million using i-mode(TM), the world’s most popular mobile e-mail/Internet platform, and 54 million using FOMA(TM), the world’s original 3G mobile service based on W-CDMA. As a leader in the development of cutting-edge mobile technologies, DOCOMO is continually expanding the role of mobile phones as versatile and highly personalized “lifestyle tools” for everyday life, including with a wide range of innovative services for mobile payments, GPS, mobile TV, multimedia content and much more. NTT DOCOMO is listed on the Tokyo (9437), London (NDCM) and New York (DCM) stock exchanges. For more information, visit www.nttdocomo.com.

Source: NTT DOCOMO

Contact:

Eijun Tanaka or Takuya Ori
International PR
Public Relations Department
Tel: +81-3-5156-1366
Fax: +81-3-5501-3408>

Copyright 2011 JCN Newswire. All rights reserved. www.japancorp.net


Source: acnnewswire



comments powered by Disqus