Japan's DoCoMo to buy 30% stake in AKTEL NTT DoCoMo, Japan's largest wireless operator, has agreed to pay $350 million to buy AK Khan & Co's 30 percent stake in mobile-phone carrier TM International (Bangladesh) that operates AKTEL.
The purchase is expected to be completed by the year-end, Tokyo-based DoCoMo said in a statement to the Tokyo Stock Exchange Monday.
Fazlur Rahman, director (co-ordination and regulatory affairs) of AKTEL, told bdnews24.com: "We have faxed a letter to BTRC, seeking approval for the sale of the shares."
The remaining 70 percent of AKTEL is owned by TM International (Bangladesh), which was spun off from Telekom Malaysia.
AKTEL is the third largest mobile service provider after Grameenphone and Banglalink in Bangladesh. According to BTRC statistics, AKTEL has recorded 7.71 million subscribers until May.
According to Bloomberg, the 30 percent stake gives DoCoMo access to a faster-growing market than Japan. The offer is 18 percent less than the $425 million that Reuters reported in June DoCoMo was prepared to pay.
In the statement, DoCoMo said it would participate in TMIB's management and actively draw on its expertise to enhance the company's business in the fast-growing Bangladeshi mobile telecommunications market."
DoCoMo is the world's leading mobile communications company that serves over 53 million customers, including 44 million people subscribing to FOMA™, launched as the world's first 3G mobile service based on W-CDMA in 2001.
DoCoMo is listed on the Tokyo, London and New York stock exchanges.
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