KT Freetel and NTT DoCoMo to Jointly Invest in Malaysia's U Mobile
SEOUL, TOKYO, December 3, 2007 --- KT Freetel Co., Ltd. and NTT DoCoMo, Inc. today announced that they have agreed to jointly invest in U Mobile Sdn Bhd, a new Malaysian 3G mobile operator that is scheduled to launch commercial service in 2008. The two companies will collectively acquire 33 percent control of the new market entrant.
Upon approval of the Malaysian government, KTF and DoCoMo will invest 100 million U.S. dollars respectively through third-party allotment of new shares, giving each company 16.5 percent shares with voting rights.
KTF and DoCoMo will jointly participate in U Mobile's management and draw on their 3G expertise to enhance U Mobile's competitiveness. The two companies intend in future to promote international roaming services through U Mobile 3G network for their respective customers traveling in Malaysia.
About KT Freetel
Since the launch of PCS service in 1997, KTF has grown into a prominent mobile communications service provider with 13.6 million subscribers in Korea. It has always been at the fore-front of providing innovative services -- delivering enriched customer values in communications as well as providing a cutting-edge mobile internet and convergence services in information, entertainment and transaction areas.
Initially implementing the WCDMA network in Seoul metropolitan area in 2003, KTF has launched a HSPA service in June 2006 and a fully nationwide HSPA service in March 2007, and thus became the world's first operator to achieve with 99% population coverage with HSPA. With the new brand "SHOW," KTF has acquired more than 2.8 million 3G customers in just nine months of nationwide launch, the vast majority of who are HSPA users, and is currently the No.1 HSPA operator in the World. For more information, visit www.ktf.com
Upon approval of the Malaysian government, KTF and DoCoMo will invest 100 million U.S. dollars respectively through third-party allotment of new shares, giving each company 16.5 percent shares with voting rights.
KTF and DoCoMo will jointly participate in U Mobile's management and draw on their 3G expertise to enhance U Mobile's competitiveness. The two companies intend in future to promote international roaming services through U Mobile 3G network for their respective customers traveling in Malaysia.
About KT Freetel
Since the launch of PCS service in 1997, KTF has grown into a prominent mobile communications service provider with 13.6 million subscribers in Korea. It has always been at the fore-front of providing innovative services -- delivering enriched customer values in communications as well as providing a cutting-edge mobile internet and convergence services in information, entertainment and transaction areas.
Initially implementing the WCDMA network in Seoul metropolitan area in 2003, KTF has launched a HSPA service in June 2006 and a fully nationwide HSPA service in March 2007, and thus became the world's first operator to achieve with 99% population coverage with HSPA. With the new brand "SHOW," KTF has acquired more than 2.8 million 3G customers in just nine months of nationwide launch, the vast majority of who are HSPA users, and is currently the No.1 HSPA operator in the World. For more information, visit www.ktf.com
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