Japan’s second-largest telecom company, KDDI Corp., has hired Goldman Sachs Group Inc. as an adviser on the possible sale of the company’s wireless unit Tu-ka, according to The Wall Street Journal.
The newspaper said Goldman Sachs has distributed financial details of Tu-ka to possible purchasers, including France Telecom’s Orange wireless division and Newbridge Capital L.L.C. A report last week named U.S. investment firm Texas Pacific Group as a possible buyer, noting the company made a nearly $3 billion bid for Tu-ka.
Tu-ka, which operates on a PDC network, is one of three wireless networks KDDI operates along with au Corp., which operates a cdmaOne-based network, and the low-cost Personal Handyphone System network. KDDI said it will absorb au Corp., using it as the basis for the third-generation network, and lease its PHS network to Japan Communications Inc.
