NTT DoCoMo, S. Korea's No. 2 Mobile Service Provider Ink Tie-Up Deal
Posted on: Thursday, 15 December 2005, 12:00 CST
By Kyodo News International, Tokyo
Dec. 15--TOKYO -- NTT DoCoMo Inc. said Thursday it and South Korea's No. 2 mobile service provider KT Freetel Co. signed a capital and technological tie-up agreement to expedite mobile services based on the sophisticated W-CDMA format in the South.
Under the deal, NTT DoCoMo will acquire for 65.5 billion yen a 10 percent stake in the Korean carrier by the year's end by purchasing both new and outstanding shares in KT Freetel, according to the top Japanese mobile service provider.
Using NTT DoCoMo's mobile technology, the Japanese carrier will help KT Freetel build up a mobile infrastructure network based on the W-CDMA technological standard throughout the South, NTT DoCoMo said.
KT Freetel presently provides mobile services to some 12 million subscribers.
The two companies will set up a task force, dubbed the Business & Technology Cooperation Committee, to discuss how to enhance the ease of use of international roaming services and the provision of new types of services, NTT DoCoMo said.
In addition, the two will discuss cutting business costs by adopting telecommunication equipment with common specifications, while seeking to bolster the ease of use of their services for users in both Japan and South Korea, it said.
KT Corp., the South's biggest fixed-line phone service provider, is the top shareholder in KT Freetel, which ranks second only to SK Telecom Co. in South Korea with a market share of about 32 percent.
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DCM, 9437,
Source: Kyodo News International, Tokyo
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