DoCoMo Increases Hong Kong Investment

Japan's NTT DoCoMo, has announced that it is to acquire an additional 6.37% stake in Hong Kong cellular phone company Hutchison Telephone Company (HTCL), according to an agreement signed by DoCoMo and HTCL's parent firm, Hutchison Whampoa. The additional investment, which amounts to US$30.44 million, raises DoCoMo's total stake in HTCL to 25.37%. Following completion of the investment, NTT DoCoMo will appoint one more board member to HTCL, which currently has around 1.7 million subscribers."

Posted to the site on 17th May 2001