KT Freetel and NTT DoCoMo to jointly invest in Malaysia's U Mobile

December 3, 2007

1 Min Read

SEOUL, South Korea and TOKYO -- KT Freetel Co., Ltd. and NTT DoCoMo, Inc. today announced that they have agreed to jointly invest in U Mobile Sdn Bhd, a new Malaysian 3G mobile operator that is scheduled to launch commercial service in 2008. The two companies will collectively acquire 33 percent control of the new market entrant.

Upon approval of the Malaysian government, KTF and DoCoMo will invest 100 million U.S. dollars respectively through third-party allotment of new shares, giving each company 16.5 percent shares with voting rights.

KTF and DoCoMo will jointly participate in U Mobile's management and draw on their 3G expertise to enhance U Mobile's competitiveness. The two companies intend in future to promote international roaming services through U Mobile 3G network for their respective customers traveling in Malaysia.

KT Freetel Co.

NTT DoCoMo Inc. (NYSE: DCM)

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like