Nippon Telegraph and Telephone : Japan's NTT completes tender offer in $40 billion NTT Docomo deal
11/16/2020 | 08:47pm EST
TOKYO (Reuters) - Japan's Nippon Telegraph and Telephone Corp (NTT) said on Tuesday it has completed a tender offer for its wireless carrier business NTT Docomo Inc raising its stake to 91.46% from 66.21% previously as part of a $40 billion deal.
NTT said it plans to buy out the remaining shareholders and delist Japan's largest telco in a deal that follows pressure from Prime Minister Yoshihide Suga to cut prices.
(Reporting by Sam Nussey; Editing by Jacqueline Wong and Tom Hogue)