The move is aimed at maintaining the NTT Group’s cumulative stake at about 20% following PLDT’s planned acquisition of a majority stake in Digital Telecommunications Philippines via a share swap announced at the end of March.
DoCoMo added that it will also strengthen its operational ties with PLDT and its wholly owned mobile communications subsidiary Smart Communications, aiming to increase the corporate value of both entities through the efforts of a joint business cooperation committee involving the three companies.
DoCoMo, since acquiring about 7% of PLDT in March 2006, has been steadily raising its share as part of building a comprehensive partnership with PLDT. The NTT Group’s combined shareholding rose to over 20% in February 2008.
