NTT DoCoMo Increases Stake in Philippine Long Distance Telephone
TOKYO, JAPAN, January 22, 2008 --- NTT DoCoMo, Inc. announced today that during the period from March 2007 through January 22, 2008 it raised its stake in Philippine Long Distance Telephone Company (PLDT), the largest telecommunications company in the Philippines, to 13.34% of the outstanding common stock of PLDT. During this period, DoCoMo acquired 12,532,214 additional shares of common stock of PLDT, or 6.64% of the outstanding common stock of PLDT, for 86.7 billion Japanese yen, or approximately 760 million U.S. dollars.
The combined holdings of DoCoMo and NTT Communications Corporation, a sister company in the NTT Group, are now 20.03% of the outstanding common stock of PLDT.
DoCoMo, beginning with its initial acquisition of 12,633,486 shares of PLDT (6.7% of the outstanding common stock of PLDT) from NTT Communications in March 2006, has been steadily increasing its stake as part of the building of its comprehensive partnership with PLDT. The increased stake also enables DoCoMo to book the investment using the equity method and reclassify PLDT as an affiliate.
The investment also strengthens DoCoMo's business tie-up with Smart Communications, Inc. (SMART), PLDT's wholly-owned mobile communications subsidiary. Working with SMART, DoCoMo intends to develop mutually beneficial technologies and services, including international roaming between Japan and the Philippines.
About NTT DoCoMo
NTT DoCoMo is the world's leading mobile communications company. DoCoMo serves over 53 million customers, including 40 million people subscribing to FOMA™, launched as the world's first 3G mobile service based on W-CDMA in 2001. DoCoMo also offers a wide variety of leading-edge mobile multimedia services, including i-mode™, the world's most popular mobile e-mail/Internet service, used by more than 47 million people. With the addition of credit-card and other e-wallet functions, DoCoMo mobile phones have become highly versatile tools for daily life. NTT DoCoMo is listed on the Tokyo (9437), London (NDCM) and New York (DCM) stock exchanges. For more information, visit www.nttdocomo.com.
The combined holdings of DoCoMo and NTT Communications Corporation, a sister company in the NTT Group, are now 20.03% of the outstanding common stock of PLDT.
DoCoMo, beginning with its initial acquisition of 12,633,486 shares of PLDT (6.7% of the outstanding common stock of PLDT) from NTT Communications in March 2006, has been steadily increasing its stake as part of the building of its comprehensive partnership with PLDT. The increased stake also enables DoCoMo to book the investment using the equity method and reclassify PLDT as an affiliate.
The investment also strengthens DoCoMo's business tie-up with Smart Communications, Inc. (SMART), PLDT's wholly-owned mobile communications subsidiary. Working with SMART, DoCoMo intends to develop mutually beneficial technologies and services, including international roaming between Japan and the Philippines.
About NTT DoCoMo
NTT DoCoMo is the world's leading mobile communications company. DoCoMo serves over 53 million customers, including 40 million people subscribing to FOMA™, launched as the world's first 3G mobile service based on W-CDMA in 2001. DoCoMo also offers a wide variety of leading-edge mobile multimedia services, including i-mode™, the world's most popular mobile e-mail/Internet service, used by more than 47 million people. With the addition of credit-card and other e-wallet functions, DoCoMo mobile phones have become highly versatile tools for daily life. NTT DoCoMo is listed on the Tokyo (9437), London (NDCM) and New York (DCM) stock exchanges. For more information, visit www.nttdocomo.com.
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