Japan's NTT DOCOMO has announced that it will sell its shareholding in U Mobile, a Malaysian 3G mobile operator, for $100 mn, the same amount DOCOMO originally invested for the shares.
Under an agreement with major stakeholders, DOCOMO will sell its entire stake amounting to 16.5% of U Mobile's outstanding shares, to the majority shareholder, U Television (UTV).
Earlier this year, South Korea's KT Freetel (KTF) also sold its 16.5% stake in U Mobile to UTV for the same amount. KTF and its 11% stakeholder DOCOMO originally took a 33% stake in Malaysia's U Mobile in December 2007 for $200 mn which was split between the two companies.
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