NTT completes PLDT stake sale to DoCoMo

15 Mar 2006

Japanese giant NTT – the largest telco in the world by revenue – has revealed has announced the completion of a 7% stake sale in PLDT to NTT DoCoMo. The deal halves the 14% NTT previously held. Although there’ll be no cash boost to PLDT, the Filipino telco’s Chairman Manuel Pangilinan said the deal was important given the recent 3G licence award to PLDT’s mobile division Smart Communications, and DoCoMo’s experience of providing next generation services in Japan. The Japanese cellco will now receive a seat on the 15-member PLDT board. The deal follows increased co-operation between Smart and DoCoMo: in February 2006 Smart revealed plans to launch i-mode services, the proprietary mobile internet technology developed by DoCoMo.