British cellular operator Vodafone Group PLC will today launch an agreed takeover bid over Japan Telecom Co. through a wholly owned subsidiary and take full control of the nation's third-largest operator with up to a 66.7 percent stake, Vodafone announced Thursday in Tokyo.
Japan Telecom will remain listed as a Japanese company after the takeover, Chris Gent, Vodafone chief executive officer, said via satellite during a news conference held in Tokyo.
Japan Telecom's fixed-line business will not be separated or sold off as speculated, Gent said. A number of initiatives need to be taken to improve Japan Telecom's relatively poor business performance, he added.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.