US telecom NextWave to enter Japan's mobile market
Afp, Tokyo
US telecom firm NextWave Wireless is set to become the second foreign company to enter Japan's crowded mobile telephone business after agreeing to buy a controlling stake in IP Mobile. NextWave will acquire a 69.23 percent stake in IP Mobile -- which was awarded a cellphone operating licence in November 2005 -- from Japanese real estate group Mori Trust Co., the Japanese company said Friday. NextWave is only the second foreign firm to enter Japan's mobile telephone market, one of the biggest and most competitive in the world, following in the footsteps of Britain's Vodafone which pulled out last year. "NextWave has developed multi-dimensional business in the United States, with its high-level technologies in the area of mobile broadband," IP Mobile said in a statement. "The company will prepare for the launch of its wireless broadband business planned by November with NextWave as its top shareholder."
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