NTT Docomo Ups Its Stake in PLDT

TOKYO -- NTT DOCOMO, INC. announced today that it has signed an option agreement with JG Summit Holdings, Inc. (JG SUMMIT) to trade about 2% of the total issued and outstanding shares of Philippine Long Distance Telephone Company (PLDT), worth an estimated about 263 million U.S. dollars or about 21.6 billion Japanese yen as of April 28, 2011.

The option to acquire the additional shares from JG SUMMIT must be exercised within 30 days of the shares being listed with the Philippine Stock Exchange.

The move is aimed at maintaining the NTT Group's cumulative stake at about 20% following PLDT's planned acquisition of a majority stake in Digital Telecommunications Philippines Inc. via a share swap announced on March 29. PLDT will issue its new shares after the acquisition, which is planned to be completed by the end of this June. NTT Communications Corporation, a sister company of DOCOMO in the NTT Group, also owns PLDT common stock.

DOCOMO will further strengthen its operational ties with PLDT and its wholly owned mobile communications subsidiary Smart Communications, Inc., aiming to increase the corporate value of both entities through the efforts of a joint business cooperation committee involving the three companies.

NTT DoCoMo Inc. (NYSE: DCM)