DoCoMo Sells Stake in Malaysian 3G Operator

­Japan's NTT DoCoMo announced today that it will sell its shareholding in U Mobile, a Malaysian 3G mobile operator, for US$100 million - the same amount DoCoMo originally invested for the shares.

Under an agreement with major stakeholders, DoCoMo will sell its entire stake - amounting to 16.5% of U Mobile's outstanding shares - to the majority shareholder, U Television (UTV).

Earlier this year, South Korea's KT Freetel (KTF) also sold its 16.5% stake in U Mobile to UTV for the same amount. KTF and its 11-percent stakeholder DoCoMo originally took a 33 percent stake in Malaysia's U Mobile in December 2007 for US$200 million which was split between the two companies.

The Mobile World report on Malaysia notes that the country ended Q1 2009 with some 25.6 million subscribers, representing a population penetration level of 113%. U Mobile is estimated to have ended the quarter with just around 890,000 subscribers, having started operations in September 2007.

On the web: Mobile World - U Mobile

Posted to the site on 15th September 2009