IPMobile announced that its major shareholder, Multimedia Research Institute Corp., has reached an agreement with Mori Trust Co., Ltd. to transfer its stocks, therefore Mori Trust will become IPMobile’s major shareholder. According to the statement, IPMobile will review its capital structure and continue to raise investments required to launch commercial services. IPMobile is currently in talks with Mori Trust Co., Ltd. and will make an announcement about the timing of the launch and the details of its service once an agreement is reached.
Furthermore, IPMobile denied rumors that it is giving up its 2GHz spectrum allocation as reported in certain media. IPMobile 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.