Asia News: KTF and DoCoMo jointly invest in Malaysia's U Mobile

Asia News:  KTF and DoCoMo jointly invest in Malaysia's U Mobile

KT Freetel and NTT DoCoMo have agreed to jointly invest in U Mobile, a new Malaysian 3G mobile operator that is scheduled to launch commercial service in 2008.

The two companies will collectively acquire 33% control of the new market entrant.

On approval of the Malaysian government, KTF and DoCoMo will invest US$100 million through third-party allotment of new shares, giving each company 16.5% percent shares with voting rights.

KTF and DoCoMo will jointly participate in U Mobile's management and draw on their 3G expertise to enhance U Mobile's competitiveness.

The two companies intend in future to promote international roaming services through U Mobile 3G network for their customers travelling in Malaysia.

Since the launch of PCS service in 1997, KTF has grown into a prominent mobile communications service provider, with 13.6 million subscribers in Korea.

Initially implementing the WCDMA network in Seoul metropolitan area in 2003, KTF launched an HSPA service in June 2006 and a fully nationwide HSPA service in March 2007, thus becoming the world's first operator to achieve 99% population coverage with HSPA.

With the new brand ‘SHOW’, KTF acquired more than 2.8 million 3G customers within nine months of the nationwide launch, the vast majority of who are HSPA users. KTF is currently the No.1 HSPA operator in the World.

DoCoMo serves about 53 million customers, including 40 million people subscribing to FOMA™, launched as the world's first 3G mobile service based on W-CDMA in 2001.

DoCoMo also offers mobile multimedia services, including i-mode™, a mobile e-mail/Internet service used by more than 47 million people.

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