NTT plans USD2.2 billion share buy-back

8 Feb 2012

Japan’s largest telco NTT has unveiled a plan to spend JPY166.5 billion (USD2.2 billion) to buy back 44 million of its own shares from the Ministry of Finance. As a result of the transaction the government’s stake will fall from 36.6% to the minimum permitted level of 33.3%. According to a Reuters report, NTT is paying JPY3,785 per share. In July last year the operator paid JPY223 billion to buy back 57.5 million shares.