Commentary: A Free Phone Market In Japan? Don't Hold Your Breath

It's a crucial test of what the word "deregulation" means in Japan. Bureaucrats once again are wrestling with the idea of breaking up Nippon Telegraph & Telephone Corp. (NTT), Japan's rough equivalent of America's old AT&T monopoly. They're reacting to a much-heralded report from a committee that advises the Ministry of Posts & Telecommunications (MPT). And since billions of dollars in equipment orders hinge on NTT's status, foreign companies are also watching impatiently.

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