As Japan officially falls into recession, after suffering a second negative quarter in a row, along with Germany, Italy and Spain, there certainly is alot of doom and gloom in the global markets today. And while economists and analysts wait for the next economy to follow the downward trend, NTT DoCoMo Japan, the world's leading mobile communications company serving over 53 million customers, is digging into it's war coffers to take a stake in one of the fastest growing mobile phone markets in the world, India, a market gaining 9 million customers per month.
Firstly reported by Bloomberg from a speculative stance, stating that DoCoMo was taking a 26 percent stake in Tata Teleservices of India and then confirmed with in hours by a press release on NTT's press release webpage, the deal is reported at US$2.7 billion for the 26 percent stake.
As a result of the capital alliance, the partners expect to expand mobile communication operations in the fast-growing Indian mobile market, aiming to increase operating revenue and achieve steady business growth.
As the old saying goes..."turn a lemon into lemonade"....
Australian Chris
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2 comments:
Nice blog boys. Depending on how you define "leading" or "largest", the largest mobile telecommunications company by turnover is Vodafone (75 billion GBP) and by customers, China Mobile. Catch up with you soon no doubt.
ARJ posting from 京都 here by the way.
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