DoCoMo Makes Move in Korea
Confirming rumours from earlier this week, NTT DoCoMo and KT Freetel announced today they have agreed on a comprehensive strategic alliance including equity participation. DoCoMo will invest approximately 65.5 bn yen to acquire a 10-percent stake in KTF through a third-party allotment of new shares and purchase of KTF treasury stock by the end of December 2005. This alliance enables both companies to provide better services to customers in their respective markets through the development and promotion of mobile technologies and applications. The nationwide deployment and early stabilization of KTF’s W-CDMA network, with DoCoMo’s technical support, is considered the key to achieving these objectives.