TOKYO-British Telecommunications plc is in the process of increasing its current 15-percent stake in Japan Telecom Co. Ltd., according to Reuters. The move comes at the same time BT rival Vodafone Group is also trying to gain a larger share of Japan’s third-largest telecom operator.
BT is currently in talks to purchase AT&T Corp.’s 7.5-percent stake in Japan Telecom, giving BT a possible 22.5-percent stake in the Japanese telecom company. NTT DoCoMo, Japan’s largest wireless operator, recently invested almost $10 billion in AT&T Corp.
Vodafone is said to be interested in purchasing a 15-percent stake in Japan Telecom for $2.4 billion from West Japan Railway Co. and Central Japan Railway Co. Vodafone currently owns 26 percent of J-Phone, Japan Telecom’s mobile-phone division, and is looking to gain more control over J-Phone by acquiring a larger stake in Japan Telecom, which controls 54 percent of J-Phone. BT owns the remaining 20 percent of J-Phone.
