DoCoMo Mulls Investing In Philippine Telecom
Published on: 25th Jan 2006
Note -- this news article is more than a year old.
TOKYO Dow Jones NTT DoCoMo Inc said Wednesday that it is considering investing in Philippine Long Distance Telephone Co in an effort to expand its mobile phone business in growing Asian markets
Japan's biggest mobile phone operator by subscriber base is considering the size of its stake and the potential costs of an investment, an NTT DoCoMo spokesman said.
The Japanese mobile phone firm is gearing up to increase its presence in Asian markets after it had pulled back its overseas investments over the past few years, following failed ventures in U.S. and European telecom firms.
The company said late last year that it would invest $6 million in the holding company of Just In Mobile Information Technology Shanghai, a Chinese mobile payment service provider.
DoCoMo also announced a strategic alliance with KT Freetel Ltd. in December, which includes a 10% stake in the South Korean mobile phone service provider for about KRW564.9 billion.
The potential investment in the Philippines telecom firm is part of DoCoMo's expansion strategy in Asia, a company spokesman said.
-By Yoshio Takahashi, Dow Jones Newswires; 813-5255-2929; firstname.lastname@example.org
-Edited by Tomoko Hosaka
(END) Dow Jones Newswires "