Nippon Telegraph and Telephone Corp (NTT Corp) announced today (17 November) that it has completed a tender offer for its wireless carrier business NTT DOCOMO, in the process upping its stake from 66.21% to 91.46% under the roughly USD40 billion transaction. The Japanese telecoms giant will now look to buy out the remaining shareholders of NTT DOCOMO and delist the company. The move comes in response to incoming prime minister Yoshihide Suga’s call for operators to slash prices.
The tender offer launched on 30 September as part of NTT Corp’s drive to take full control of the mobile subsidiary; the offer ended on 16 November. NTT offered JPY3,900 (USD37) per share, representing a 40.5% premium on NTT DOCOMO’s closing price of JPY2,775 the day before the 29 September announcement of the tender offer.