DoCoMo pays USD94.8m for internet company

2 Jun 2008

Japan’s NTT DoCoMo is investing around JPY10 billion (USD94.8 million) to acquire a 30% stake in NTT Resonant to increase the range of fixed line internet services that can be sold to its cellular users, the Nikkei daily reported without citing sources. The cellco intends to offer a range of services such as allowing its users to access high resolution videos or download games from PCs. DoCoMo is looking to take a 30% stake in NTT Resonant, currently a wholly owned subsidiary of NTT Communications Corp. It will purchase the vast proportion of the shares that are scheduled to be issued next month as part of a private placement. This is the first time DoCoMo will have invested in an NTT-owned fixed line service provider. NTT Resonant currently operates the NTT group’s goo Web portal site, as well as providing social networking services and distributing digital content such as videos and music downloads.