DoCoMo to Take Stake in KT

DoCoMo will exchange its 10.72% stake in KT Freetel Co. Ltd. (KTF) for KT securities

January 20, 2009

1 Min Read

TOKYO -- NTT DOCOMO, INC. (DOCOMO) announced today that it has agreed with KT Corporation (KT) that DOCOMO will exchange its 10.72% stake in KT Freetel Co., Ltd. (KTF) for KT securities in relation to the merger between KT and KTF. The boards of directors of DOCOMO and KT have both approved the agreement, and the deal is expected to be finalized upon approval at shareholders meetings of KT and KTF, as well as completion of regulatory procedures in the near future. Under the plan, DOCOMO will exchange 40% of its KTF shareholding for KT common stock and the remaining 60% for KT exchangeable bonds.

KT will take over the Business & Technology Cooperation Committee, which DOCOMO and KTF formed when DOCOMO acquired a stake in KTF in December 2005. Through the committee the two companies have collaborated on the early implementation of a W-CDMA network in Korea and other successful initiatives, such as the joint procurement of handsets.


KT Corp.

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