IPMobile Denies Cancelling 3G Launch

Contradicting media reports yesterday, Japan's IPMobile has denied that it has handed back its 3G license to the Japanese government - and announced a new major shareholder. IPMobile said that its major shareholder, Multimedia Research Institute, has reached an agreement with Japan's Mori Trust to transfer its stocks.

Mori Trust will become IPMobile's major shareholder. IPMobile will review its capital structure and continue to raise investments required to launch commercial service. IPMobile is currently in talks with Mori Trust and will make an announcement about the timing of the launch and the details of its service once an agreement is reached.

IPMobile received its allocation of 2GHz spectrum from the Japanese Ministry of Internal Affairs and Communications on November, 2005. It aims to commence the first wireless broadband service in Japan using TD-CDMA technology.

The Mori Trust is predominantly a property developer, but does include an IT consultancy division."

Posted to the site on 11th April 2007