The leading Japanese mobile phone operator NTT Docomo has agreed to sell its stake in Hutchison Telephone Company Limited (HTCL) and Hutchison 3G HK Holding Limited (H3GHK), to Hutchison Telecommunications Hong Kong Holdings Limited (HTHKH).
Based in Hong Kong, the Hutchison Telecommunications is a predominate telecom operator. It has purchased the shares in HTCL and H3GHK from Docomo for $60 million.
Hutchison Telecommunications holds a majority of shares in HTCL and H3GHK, while NTT Docomo held 24.1% shares in HTCL’s stock. It has purchased all the shares in HTCL and has made it a wholly owned subsidiary.
The contract has been signed between both the companies and the actual transfer of shares will occur in May this year.