NTT DoCoMo to liquidate operations
Bnamericas Published: Wednesday, December 31, 2003
Japanese mobile group NTT DoCoMo plans to liquidate operations in Brazil, the company said in a statement. NTT made its decision after the termination of a contract to "offer technical assistance" to Brazilian mobile operator Tele Sudeste Celular, in which NTT has a 7% stake. The closure of Brazilian operations means NTT will sell the stake, valued at 13.5mn euros, according to Spanish newspaper Cinco Dias. NTT Docomo purchased the stake in 1998 with the privatization of the telecoms sector in Brazil. Tele Sudeste Celular is one of the component subsidiaries of Brazil's largest mobile operator Vivo, a 50/50 joint venture between Telefonica Moviles and Portugal Telecom. Vivo controls 83% of the operator's total equity.
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