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| January 31, 2006 |
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| TOKYO, JAPAN – NTT Communications Corporation (NTT Com) today announced that it will sell 12,633,486 common shares of its share in Philippine Long Distance Telephone Company (PLDT) to NTT DoCoMo, Inc. (DoCoMo) for 23 billion pesos or 52.1 billion yen (US$ 445 million)*. The transaction is the result of an agreement among four companies: NTT Com, DoCoMo, PLDT, and PLDT's largest shareholder First Pacific Company Limited. The shares represent approximately 7% of PLDT's total outstanding common shares. After the sale, NTT Com will retain 12,633,487 of PLDT's common shares (7% stake) and will realize proceeds of approximately 43.8 billion yen (US$ 374 million)* from the shares sold. NTT Com, which has been a shareholder in PLDT since March, 2000, provides international communications services for corporate users and Internet services in the Philippines. Hiromi Wasai, President and CEO, said, "Through our strategic partnership, PLDT and NTT Com have excelled in providing global telecommunications services for multinational companies. DoCoMo's entry as a shareholder in PLDT will further boost the overall global business development of the NTT Group, through the expansion of its mobile business component, thereby enhancing the corporate value already built. The move plays into the fixed-mobile convergence direction that DoCoMo and NTT Com has embarked and results in a winning proposition for all parties." * 1 peso = 2.26 yen, US$1 = 117.14 yen (As of January 30, 2006) About NTT Com NTT Communications is a subsidiary of Nippon Telegraph and Telephone (NTT) Corporation (NYSE: NTT) - one of the world's largest telecommunications companies. NTT Com provides high-quality, technologically advanced network management, security and solution services to consumers, corporations and governments on a global basis, with a special focus on the Asia-Pacific region. Its world-class backbone network, combined with the networks of partner companies around the world, offers access to more than 200 countries. NTT Com Group has more than 30 companies in the Asia-Pacific region, Europe and the Americas. The company has garnered several awards for its leading edge technologies, outstanding performance and customer service, including "World Communication Awards Best Customer Care - 2005." For more information, please visit http://www.ntt.com |
