DoCoMo Acquires a Stake in Bangladesh

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Author: 123jump.com Staff
123jump.com
Last Update: 5:12 PM EDT June 16 2008

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Stocks in Japan advanced as worries over inflation eased after crude oil prices slumped on speculation that Saudi Arabia will increase oil output. A weakening yen also helped buoy exporters. NTT acquires a minority stake of 30% in Bangladesh based mobile carrier with nearly 7 million subscribers. GS Yuasa Corp. led advancers in the Nikkei 225 index shares with a rise of 10.60% followed by increases in Mitsumi Electric Co. of 7.3%.

Inpex dropped as crude oil for July delivery fell as much as 0.7% to $133.96 a barrel in on expectations Saudi Arabia will increase production.

NTT DoCoMo acquires 30% stake in Bangladeshi mobile carrier

NTT DoCoMo acquires 30% stake in TM Iinternational (Bangladesh) Ltd. for $350 million from A.K.Khan & Co. Ltd. The company is majority owned by Malaysian carrier TM international Bhd with a stake of 70%.

The Bangladesh carrier provides GSM mobile wireless service under the brand name Aktel with a subscriber base of 6.5 million that is growing at a rate of 60% annually. Six telecom operators provide services to more than 35 million subscribers in a nation where Grameenphone leads the market with a market share of 16.5 million subscribers.

NTT DoCoMo is the largest mobile service provider in Japan with a market share of 50% or 53 million subscribers but has been struggling to add new subscribers in the face of price competition from Softbank Mobile Corp.

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