Japanese telecoms firms argue a takeover of NTT Docomo would prevent fair competition
TOKYO – Japanese telecoms firms appealed Wednesday to the communications ministry over a planned $40-billion takeover of the country’s biggest mobile carrier by its government-backed parent, warning it would “prevent fair competition”.
NTT announced in September its plan to buy out remaining shares in NTT Docomo, in a potentially record-breaking deal.
NTT currently holds 66 percent of NTT Docomo’s shares, and its chief executive argues the move would enhance “competitiveness and growth”.
But on Wednesday, 28 Japanese telecom companies including Docomo rivals SoftBank Corp and KDDI sent a joint letter to the communications minister protesting against the move.
Making Docomo a wholly owned company “will create a powerful…
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