TOKYO-Toyota Motor Corp. sold its stakes in three regional wireless companies to Japan Telecom for an undisclosed amount, international press reports said. J-Phone Communications is Japan’s second-largest mobile carrier and is owned 54 percent by Japan Telecom.
Toyota held 1.97 percent of J-Phone East, 1.98 percent of J-Phone Central and 5 percent of J-Phone West, three regional companies of J-Phone.
Reports said the sale would allow Toyota to focus on its partnership with Japanese carrier KDDI, in which it holds a stake, to develop in-car wireless communications systems.
Vodafone Group plc owns 26 percent of J-Phone, and British Telecommunications plc owns 20 percent. Japan Telecom issued options to BT to buy stakes amounting to nearly 5 percent in three J-Phone operating companies late last week.
Because of BT’s large debt burden, shareholders may not be open to such a move. In addition, such an acquisition could spark another stand-off between BT and Vodafone, as Vodafone recently upped its stakes in the Japanese carrier. The two potentially could duel for control of J-Phone, similar to a recent struggle in Spain for control of mobile operator Airtel.
