Japan’s NTT Docomo Joins Mitsui-Led Group in Edotco Bidding, Sources Say
- The Japanese group is offering to buy both new and old shares
- A potential transaction could be worth about $1.5 billion
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Japanese mobile operator NTT Docomo Inc. has joined a consortium led by Mitsui & Co. in the bidding for a majority stake in the tower unit of Malaysia’s biggest wireless firm Axiata Group Bhd., according to people with knowledge of the matter.
The group, which also includes Jtower Inc., is offering to buy new shares in Edotco Group Sdn. for about $750 million, the people said, asking not to be identified because the matter is private. The Mitsui-led consortium is also interested in buying existing shares owned by Innovation Network Corp. of Japan, Malaysian sovereign wealth fund Khazanah Nasional Bhd. and pension fund Kumpulan Wang Persaraan Diperbadankan, the people said.