Vodafone's J-Telecom sale nears
 |
Japan Telecom operates mobile services through its J-Phone unit.
Story Tools
|
TOKYO, Japan -- U.S. investment fund Ripplewood Holdings will sign a 262 billion yen ($2.18 billion) deal next Thursday to buy the fixed-line business of Vodafone unit Japan Telecom, according to the Nihon Keizai Shimbun.
The deal has been expected for some time, with Japan Telecom saying in June it expected its talks with Ripplewood to be completed by the end of July.
A spokesperson for Japan Telecom was not immediately available for comment Friday.
UK-based Vodafone Group Plc is the world's largest mobile phone operator by market capitalization, though it ranks second to China Mobile by subscriber numbers.
Vodafone owns about two-thirds of Japan Telecom Holdings Co, which is Japan's No. 3 telecoms group behind NTT and KDDI.
Japan Telecom operates mobile services through its J-Phone unit. Vodafone will keep this part of the business and will rebrand it Vodafone in October.
According to Friday's Nihon Keizai report, Ripplewood plans to restructure Japan Telecom and will bolster its data communications business for retail customers, including broadband services.
The business daily also said Ripplewood planned to acquire other telecommunications businesses ahead of a share float.
