KG Telecom Confirms Stake Sale to DoCoMo, Commercial Times Says
--From AOL.-- Cooters
Taipei, Nov. 24 (Bloomberg) - KG Telecommunications Co., Taiwan's third-biggest mobile phone provider, confirmed it will sell a stake to NTT DoCoMo Inc., Japan's largest mobile phone company, the Commercial Times reported, citing Koo Zhong-liang, a manager from the Koo's Group, which controls KG Telecom.
The management of NTT DoCoMo will come to Taiwan next month to meet with KG Telecom officials, the paper said.
KG Telecom, with 3.05 million subscribers as of mid-October. reported profit of $46.6 million last year, on revenue of $422.6 million.
NTT DoCoMo will pay as much as $9.6 billion for 20 percent stakes in AT&T Wireless Group and KG Telecommunications Co. in a bid to extend its lead in providing mobile Internet access, the Financial Times and Nihon Keizai newspapers reported on Wednesday, without citing sources. DoCoMo plans to invest 60 billion yen in KG Telecommunications, the Nikkei said. Officials of AT&T Wireless parent AT&T Corp. and DoCoMo have declined to comment.
(Commercial Times, 11/24, p.1)
Nov/23/2000 19:20 ET |
