DOCOMO to buy back USD3.4bn of stock via tender offer

12 Aug 2014

Japan’s leading mobile carrier by subscribers NTT DOCOMO is to buy back up to JPY350 billion (USD3.4 billion) of its own shares via a tender offer, with its parent company – Nippon Telegraph and Telephone Corp (NTT Corp) – reported by Reuters as saying it will sell back JPY300 billion-worth of DOCOMO shares. Under the plan, the mobile operator is looking to repurchase up to 206,489,675 shares during the tender period (7 August–3 September) for JPY1,695 per common share. The news follows an announcement in April this year, when DOCOMO said that following a consultation with NTT Corp, it was looking to buy back up to JPY500 billion of tis stock over a one-year period. The parent will keep a 59.27% stake in DOCOMO after selling back the shares, it said.