British tycoon Richard Branson's Virgin Group will announce a venture targeted at Japan's mobile phone market in two to three months, Branson said at press conference in Singapore on Friday.
Branson was speaking after signing a memorandum of understanding with Singapore Telecommunications Ltd.'s mobile-phone subsidiary, SingTel Mobile, to establish a $1 billion venture for a piece of Asia's mobile phone market, excluding Japan.
He said Virgin is also actively negotiating for a partner in Japan.
"We will be announcing in the next two to three months a deal in Japan similar to what we are doing here today," Branson said.