Japan's NTT DoCoMo has raised its stake in Philippine Long Distance Telephone (PLDT), the Philippines' largest telecom company, lifting the NTT group's overall holding to 20 percent, according to a report from Reuters.
DoCoMo, which controls more than half of Japan's mobile market, bought 12.53 million additional PLDT shares for 86.7 billion yen (US$760 million) since March 2007, raising its stake in PLDT to 13.3 percent from 6.7 percent.
The investment, bringing the NTT group's holdings in PLDT close to a 21 percent-limit previously agreed on, will help the Japanese company strengthen its partnerships in global roaming services and joint technological development, DoCoMo officials said.
About NTT DoCoMo:
NTT DoCoMo is the world's leading mobile communications company. DoCoMo serves more than 51 million customers, of which more than half subscribe to FOMA(TM), launched as the world's first 3G mobile service based on W-CDMA in 2001. DoCoMo also offers a wide variety of leading-edge mobile multimedia services, including i-mode(TM), the world's most popular mobile e-mail/ Internet service, used by more than 46 million users. With the addition of credit-card and other e-wallet functions, DoCoMo mobile phones have become highly versatile tools for daily life. NTT DoCoMo is listed on the Tokyo (9437), London (NDCM) and New York (DCM) stock exchanges. For more information, visit www.nttdocomo.com .
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technorati tags: docomo, pldt
DoCoMo buys more of PLDT
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