TOKYO-NTT DoCoMo Inc. said it will complete the sale of its 20-percent stake in Hutchison 3G UK Holdings Ltd. to Hutchison Whampoa Ltd. June 23, nearly two years earlier than first planned, and will accordingly amend its consolidated financial forecasts, announced May 10.
DoCoMo said it will record a gain on the sale of affiliate shares of about $581 million on a consolidated basis in the fiscal year ending March 31, 2006, including a foreign currency translation adjustment. The Japanese carrier’s non-consolidated financial forecast remains unchanged.
DoCoMo and Hutchison signed a sale and purchase agreement May 27, 2004, under which DoCoMo was to sell its entire stake in H3G UK to HWL for $224 million in three installments to be completed by Feb. 15, 2007. However, HWL notified DoCoMo May 9 that it planned to accelerate the final closing of the transaction to June 23.
