Vodafone to bid for Japan Telecom

Gent not happy to share and share alike...

Vodafone is preparing to up its 45 per cent stake in Japan Telecom to give it overall control of the group. Vodafone is anxious to acquire a controlling stake in the group to improve the financial performance of its mobile subsidiary J-Phone, in which Vodafone also holds a 40 per cent stake. Japan is already the first country in the world to see the launch of high-speed 3G mobile phones, and the experience in that country will be vital to Vodafone's deployments of 3G technology around the world. However, Vodafone is keen that the takeover should not be seen as hostile, and the success of its bid will hinge on how much of a premium it is prepared to by for JT shares, the Financial Times reported today.