DoCoMo Sells Stake in Hutchison 3G
NTT DoCoMo, Inc. announced today that it will complete the sale of its 20% stake in Hutchison 3G UK Holdings Limited (“H3G UK”) to Hutchison Whampoa Limited (“HWL”) on June 23, 2005. DoCoMo will record a gain on sale of affiliate shares of approximately 62 billion yen on a consolidated basis in the fiscal year ending March 31, 2006 including foreign currency translation adjustment and as a result, will amend its consolidated financial forecasts, which were announced on May 10, 2005.
The non-consolidated financial forecast remains unchanged.
DoCoMo and HWL signed a Sale and Purchase Agreement on May 27, 2004 under which DoCoMo was to sell its entire stake in H3G UK to HWL for ??120 million in three installments to be completed by February 15, 2007. However, HWL notified DoCoMo on May 9, 2005 of its intention to accelerate the final closing of the transaction to June 23, 2005.
For the amended forecasts for the fiscal year ending March 31, 2006, please refer to the attachment.
Amended Consolidated Financial Results Forecasts for Fiscal Year Ending March 31, 2006 Attachment.