Tokyo to sell NTT stake

16 May 2005

The Japanese government has revealed that it may sell part of its stake in telco NTT directly to the operator. NTT has agreed to buy back up to 1.25 million shares for a maximum of JPY600 billion, meaning that the government can sell 1.12 million shares, the portion it is allowed to give up under Japanese law. The government has gradually reduced its holding in NTT since the operator was listed in 1987.

Japan, NTT (NTT East & NTT West)