TOKYO-Astel Kansai Corp., a regional operator of Astel Group’s PHS (Personal Handyphone Service) operations, has become a subsidiary of Kansai Electric Power Co., an Astel Kansai spokesman said. The Astel company will try to revitalize its troubled PHS business under the leadership of its new owner.
At a special shareholders’ meeting on 24 August, Astel Kansai decided to increase its capital from a current 10 billion yen (about US$69 million) to 25 billion yen (about US$173 million), with Kansai Electric bearing 10.2 billion yen (about US$70.6 million) of capital increase. The rest will be spread across 46 other shareholder firms.
As a result, Kansai Electric and its related firms will own 51.24 percent of Astel Kansai.
Astel Tokyo Corp., the regional Astel company in the Kanto area, reportedly will be taken over by Tokyo Telecommunication Network Co., (TTNet) next April. However, both companies denied the report.
