NextWave to exit Japanese mobile market

20 Sep 2007

US telecoms company NextWave Wireless has revealed it is selling its stake in Japanese start-up IPMobile, becoming the second foreign firm to exit Japan’s competitive mobile telephone industry. It is understood Japanese real estate group Mori Trust Company will buy back the stake and again become the largest shareholder in the Tokyo-based cellphone company. Only last month, NextWave purchased a 69.23% stake in IPMobile from Mori Trust, making it the leading single shareholder.