July 19, 2000 

 
FOR IMMEDIATE RELEASE

NTT Communications Corporation
NTT DoCoMo,Inc.
 

PRESS RELEASE
 
Khazanah and NTT Group Will Not Proceed With Negotiations
For Purchase Of Stake In Telekom Malaysia Berhad
Khazanah Nasional Berhad (“Khazanah”), NTT Communications Corporation and NTT DoCoMo, Inc. (together as “NTT Group”) have mutually agreed not to proceed with negotiations for NTT Group to acquire a strategic stake in Telekom Malaysia Berhad (“TMB”).

Khazanah on 24 November 1999 had entered into a Memorandum of Understanding with NTT Group for a possible acquisition of a strategic stake in TMB.

Whilst both parties believe that a strategic investment leveraging on the strengths of both TMB and NTT Group would present a significant value enhancement opportunity, the negotiations could not proceed as a mutually satisfying agreement on certain key strategic issues could not be reached.

However, TMB and NTT Group as leading telecommunications companies in Asia will continue their current business relationship, and will further develop the business collaboration.

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