Sunday, December 2, 2007

KT Freetel and NTT DoCoMo to Jointly Invest in Malaysia's U Mobile

KT Freetel Co. and NTT DoCoMo agreed to jointly invest in U Mobile Sdn Bhd, a new Malaysian 3G mobile operator that is scheduled to launch commercial service in 2008. The two companies will collectively acquire 33% control of the new market entrant. Upon approval of the Malaysian government, KTF and DoCoMo will invest US$100 million respectively through third-party allotment of new shares, giving each company 16.5 percent shares with voting rights.

KTF currently serves 13.6 million subscribers in Korea. Initially implementing the WCDMA network in Seoul metropolitan area in 2003, KTF has launched a HSPA service in June 2006 and a fully nationwide HSPA service in March 2007.