Tokyo, Oct 10, 2007 - (JCN Newswire) - NTT DoCoMo, Inc. and KT Freetel Co., Ltd. today announced that in November they will set up a venture fund in Korea to invest in promising mobile and IT firms. The fund will be managed by KTBnetwork Co., Ltd.
DoCoMo and KT Freetel will each invest 13.5 billion won (1.7 billion yen), in the fund, named as KTF-NTT DoCoMo Mobile Investment Limited Partnership, each taking a 45 percent stake. KTBnetwork will invest 3 billion won (378 million yen) for the remaining 10 percent stake.
Through the fund, NTT DoCoMo and KTF expect to identify promising companies for tie-ups in technology and other opportunities in the mobile and IT sectors.
Joint investment undertakings are one of the goals of the business and capital partnership agreement concluded between DoCoMo and KTF on December 15, 2005.
The fund will operate for six years, with an option for a two-year extension.
About NTT DOCOMO
NTT DOCOMO is the world's leading mobile operator and provider of advanced mobile services. The company serves over 55 million customers in Japan, including 48 million using i-mode(TM), the world's most popular mobile e-mail/Internet platform, and 51 million using FOMA(TM), the world's original 3G mobile service based on W-CDMA. As a leader in the development of cutting-edge mobile technologies, DOCOMO is continually expanding the role of mobile phones as versatile and highly personalized "lifestyle tools" for everyday life, including with a wide range of innovative services for mobile payments, GPS, mobile TV, multimedia content and much more. NTT DOCOMO is listed on the Tokyo (9437), London (NDCM) and New York (DCM) stock exchanges. For more information, visit www.nttdocomo.com.
About KT Freetel
Since the launch of PCS service in 1997, KTF has grown into a prominent mobile communications service provider with 13.6 million subscribers in Korea. It has always been at the fore-front of providing innovative services -- delivering enriched customer values in communications as well as providing a cutting-edge mobile internet and convergence services in information, entertainment and transaction areas.
Initially implementing the WCDMA network in Seoul metropolitan area in 2003, KTF has launched a HSPA service in June 2006 and a fully nationwide HSPA service in March 2007, and thus became the world's first operator to achieve with 99% population coverage with HSPA. With the new brand "SHOW," KTF has acquired more than 2.8 million 3G customers in just nine months of nationwide launch, the vast majority of who are HSPA users, and is currently the No.1 HSPA operator in the World. KTF is listed on the KOSPI (32390). For more information, visit www.ktf.com
Contact:
NTT DoCoMo
International PR
Public Relations Department
Tel: 81-3-5156-1366
Fax: 81-3-5501-3408
website: http://www.nttdocomo.com
Oct 10, 2007
Source: NTT DOCOMO
Source: KT Freetel
NTT DOCOMO (TSE: 9437) (FTSE: NDCM) (U.S: DCM)
KT Freetel
From the Japan Corporate News Network
http://www.japancorp.net
Topic: Press release summary
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