Japan’s NTT Corp to spend $38 billion to buy out, take private its mobile unit NTT DoCoMo as it restructures for 5G era

MITO, Japan (AP) — Japanese telecoms giant Nippon Telegraph & Telephone, or NTT, says it will spend $38 billion to buy out and take private its mobile unit NTT DoCoMo as it restructures for the 5G era. The deal is one of the largest buy outs ever. NTT and NTT DoCoMo executives told reporters Tuesday that the plan is intended to make the NTT group more competitive as Japan modernizes its telecommunications networks. Reports said it would enable the mobile carrier to offer cheaper rates as it defends its leading market share against rivals such as SoftBank and KDDI. That dovetails with newly installed Prime Minister Yoshihide Suga’s push for lower telecoms rates and more consumer and business-friendly services.