Japan's Nippon Tech launches $40 billion buyout of wireless unit Docomo

Topics Nippon | Docomo | Japan

Japan’s state-backed Nippon Telegraph and Telephone Corp said it will take its wireless carrier business private in a deal worth 4.25 trillion yen ($40 billion) and which could spark a period of mobile price cuts. NTT will launch a tender offer for the 34 per cent of NTT Docomo Inc stock that it does not own, the firm said in a statement.

The telecoms firm will offer 3,900 yen per share — a premium of 40.5 per cent to Monday's closing price.   The buyout comes as new prime minister Yoshihide Suga calls on wireless.

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